(1)A company that is required under section 292 to circulate a resolution must send or submit to every eligible member—
(a)a copy of the resolution, and
(b)a copy of any accompanying statement.
This is subject to section 294(2) (deposit or tender of sum in respect of expenses of circulation) and section 295 (application not to circulate members' statement).
(2)The company must do so—
(a)by sending copies at the same time (so far as reasonably practicable) to all eligible members in hard copy form, in electronic form or by means of a website, or
(b)if it is possible to do so without undue delay, by submitting the same copy to each eligible member in turn (or different copies to each of a number of eligible members in turn),
or by sending copies to some members in accordance with paragraph (a) and submitting a copy or copies to other members in accordance with paragraph (b).
(3)The company must send or submit the copies (or, if copies are sent or submitted to members on different days, the first of those copies) not more than 21 days after it becomes subject to the requirement under section 292 to circulate the resolution.
(4)The copy of the resolution must be accompanied by guidance as to—
(a)how to signify agreement to the resolution (see section 296), and
(b)the date by which the resolution must be passed if it is not to lapse (see section 297).
(5)In the event of default in complying with this section, an offence is committed by every officer of the company who is in default.
(6)A person guilty of an offence under this section is liable—
(a)on conviction on indictment, to a fine;
(b)on summary conviction, to a fine not exceeding the statutory maximum.
(7)The validity of the resolution, if passed, is not affected by a failure to comply with this section.