Part 34E+W+S+N.I.Overseas companies

SupplementaryE+W+S+N.I.

1054OffencesE+W+S+N.I.

(1)Regulations under this Part may specify the person or persons responsible for complying with any specified requirement of the regulations.

(2)Regulations under this Part may make provision for offences, including provision as to—

(a)the person or persons liable in the case of any specified contravention of the regulations, and

(b)circumstances that are, or are not, to be a defence on a charge of such an offence.

(3)The regulations must not provide—

(a)for imprisonment, or

(b)for the imposition on summary conviction of a fine exceeding level 5 on the standard scale and, for continued contravention, a daily default fine not exceeding [F1one-tenth of level 5 on the standard scale][F1one-tenth of the greater of £5,000 or level 4 on the standard scale].

(4)In this section “specified” means specified in the regulations.

Annotations:

Amendments (Textual)

Commencement Information

I1S. 1054 wholly in force at 1.10.2009; s. 1054 not in force at Royal Assent, see s. 1300; s. 1054 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 1054 otherwise in force at 1.10.2009 by S.I. 2008/2860, art. 3(q) (with arts. 5, 7, 8, Sch. 2) (as amended by S.I. 2009/1802, art. 18)

1055Disclosure of individual's residential address: protection from disclosureE+W+S+N.I.

Where regulations under section 1046 (overseas companies: duty to register particulars) require an overseas company to register particulars of an individual's usual residential address, they must contain provision corresponding to that made by Chapter 8 of Part 10 (directors' residential addresses: protection from disclosure).

1056Requirement to identify persons authorised to accept service of documentsE+W+S+N.I.

Regulations under section 1046 (overseas companies: duty to register particulars) must require an overseas company to register—

(a)particulars identifying every person resident in the United Kingdom authorised to accept service of documents on behalf of the company, or

(b)a statement that there is no such person.

1057Registrar to whom returns, notices etc to be deliveredE+W+S+N.I.

(1)This section applies to an overseas company that is required to register or has registered particulars under section 1046 in more than one part of the United Kingdom.

(2)The Secretary of State may provide by regulations that, in the case of such a company, anything authorised or required to be delivered to the registrar under this Part is to be delivered—

(a)to the registrar for each part of the United Kingdom in which the company is required to register or has registered particulars, or

(b)to the registrar for such part or parts of the United Kingdom as may be specified in or determined in accordance with the regulations.

(3)Regulations under this section are subject to negative resolution procedure.

1058Duty to give notice of ceasing to have registrable presenceE+W+S+N.I.

(1)The Secretary of State may make provision by regulations requiring an overseas company—

(a)if it has registered particulars following the opening of a branch, in accordance with regulations under section 1046(2)(a) or (b), to give notice to the registrar if it closes that branch;

(b)if it has registered particulars in other circumstances, in accordance with regulations under section 1046(2)(c), to give notice to the registrar if the circumstances that gave rise to the obligation to register particulars cease to obtain.

(2)The regulations must provide for the notice to be given to the registrar for the part of the United Kingdom to which the original return of particulars was delivered.

(3)The regulations may specify the period within which notice must be given.

(4)Regulations under this section are subject to negative resolution procedure.

1059Application of provisions in case of relocation of branchE+W+S+N.I.

For the purposes of this Part—

(a)the relocation of a branch from one part of the United Kingdom to another counts as the closing of one branch and the opening of another;

(b)the relocation of a branch within the same part of the United Kingdom does not.