Section 602

A company that has passed a resolution under section 601 with respect to the transfer of an asset must, within 15 days of doing so, deliver to the registrar a copy of the resolution together with the valuer's report required by that section. If a company fails to comply with subsection (1), an offence is committed by— the company, and every officer of the company who is in default. 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, to a daily default fine not exceeding one-tenth of level 3 on the standard scale.

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Source: legislation.gov.uk · retrieved 2026-09-04