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127. Single Member Companies

(1) If a limited company is formed under these Regulations with only one member there shall be entered in the company’s register of members, with the name and address of the sole member, a statement that the company has only one member.
(2) If the number of members of a limited company falls to one, or if an unlimited company with only one member becomes a limited company on re-registration, there shall upon the occurrence of that event be entered in the company’s register of members, with the name and address of the sole member–
(a) a statement that the company has only one member, and
(b) the date on which the company became a company having only one member.
(3) If the membership of a limited company increases from one to two or more members, there shall upon the occurrence of that event be entered in the company’s register of members, with the name and address of the person who was formerly the sole member–
(a) a statement that the company has ceased to have only one member, and
(b) the date on which that event occurred.
(4) If a company makes default in complying with this section, a contravention of these Regulations is committed by–
(a) the company, and
(b) every officer of the company who is in default.
(5) A person who commits the contravention referred to in subsection (4) shall be liable to a level 1 fine.