C3C2Part 37Companies: supplementary provisions

Annotations:
Modifications etc. (not altering text)
C3

Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

Company records

C1I1C41135Form of company records

1

Company records—

a

may be kept in hard copy or electronic form, and

b

may be arranged in such manner as the directors of the company think fit,

provided the information in question is adequately recorded for future reference.

2

Where the records are kept in electronic form, they must be capable of being reproduced in hard copy form.

3

If a company fails to comply with this section, an offence is committed by 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

Any provision of an instrument made by a company before 12th February 1979 that requires a register of holders of the company's debentures to be kept in hard copy form is to be read as requiring it to be kept in hard copy or electronic form.