Fines under Companies Act 2006

Fines under Companies Act 2006

Offences and fines under Companies Act 2006 apply to company registered with Companies House in the United Kingdom.

Companies House would impose fines or imprisonment or both if your company is guilty of an offence.

The standard scale fine

The fines follows the standard scale of fines of the Criminal Justice Act 1982 . It is often being referred to as “the standard scale”.

The standard scale of fines for summary offences are:

Level on the scaleAmount of fine

Failure to comply and maintain your company records according to Companies Act 2006 requirements would result of your company and your director, secretary, manager and officers in default.

Your company records include the following:

Register of interests in PLC shares

Register of interests in PLC shares

Register of interests is part of your company statutory registers that must be kept and maintained according to the Companies Act 2006. Part 22 of Companies Act 2006 gives power to a PLC to investigate who has an interest in its issued share capital.

Your company must record the following information when received the notice imposed under section 793 of the Companies Act 2006 in your Register of Interests within three days.

  1. The fact that the requirement was imposed and
  2. The date on which it was imposed, and
  3. The information received in pursuance of the requirement.

The information must be entered:

  • Against the name of the present holder of the shares in question,
  • If there is no present holder or the present holder is not known, against the name of the person holding the interest.

Your register must be made up so that the entries against the names entered in it appear in chronological order.

Place of inspection

If your Register of interests is not kept at your company’s registered office address. You must inform Companies House of your Single Alternative Inspection Location (SAIL) address, the address where of Register of interests is kept and made available for inspection.

You must inform Companies House if there is any changes to your registered office address or your SAIL address.

Fail to comply

The imprisonment and fines for failing to comply with request for and disclosure of information of your Register of interests under Section 814(3) of the Companies Act 2006 are:

Imprisonment Terms

On conviction on indictment, to imprisonment for a term not exceeding two years or a fine or both.

On summary conviction, the prison term and fine are outlined below.

CountryPrison termThe standard scale finesIf guilty
England and WalesA term not exceeding 12 monthsA fine not more than the statutory maximumEither or both
ScotlandA term not exceeding 6 monthsA fine not more than the statutory maximum
Either or both
Northern IrelandA term not exceeding 6 months A fine not more than the statutory maximum
Either or both

Your company will also be fined if you refused the inspection request made to your company with no good reasons. You also must not remove any entries in your Register of interests as and when you feel like it. It is illegal and you will be fined too for this.