C1Part 18Acquisition by limited company of its own shares

Annotations:
Modifications etc. (not altering text)

Chapter 4Purchase of own shares

Supplementary provisions

703Enforcement of right to inspect copy or memorandum

1

If default is made in complying with section 702(2), (3) or (4) or default is made for 14 days in complying with section 702(5), or an inspection required under section 702(6) is refused, an offence is committed by—

a

the company, and

b

every officer of the company who is in default.

2

A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.

3

In the case of refusal of an inspection required under section 702(6) the court may by order compel an immediate inspection.