554Registration of allotmentU.K.
(1)A company must register an allotment of shares as soon as practicable and in any event within two months after the date of the allotment.
(2)This does not apply if the company has issued a share warrant in respect of the shares (see section 779).
[F1[F2(2A)If an election is in force under Chapter 2A of Part 8, the obligation under subsection (1) to register the allotment of shares is replaced by an obligation to deliver particulars of the allotment of shares to the registrar in accordance with that Chapter.]]
(3)If a company fails to comply with this section, an offence is committed by—
(a)the company, and
(b)every officer of the company who is in default.
(4)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.
(5)For the company's duties as to the issue of share certificates etc, see Part 21 (certification and transfer of securities).
Textual Amendments
F1S. 554(2A) omitted (26.10.2023 but only so far as it confers a power to make regulations or relates to the exercise of the power, otherwise prosp.) by virtue of Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b), Sch. 1 para. 8
F2S. 554(2A) inserted (30.6.2016) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 5 para. 19; S.I. 2016/321, reg. 6(c)