Part 17A company's share capital
Chapter 5Payment for shares
Supplementary provisions
590Penalty for contravention of this Chapter
(1)
If a company contravenes any of the provisions of this Chapter, 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—
(a)
on conviction on indictment, to a fine;
(b)
on summary conviction, to a fine not exceeding the statutory maximum.