407. Default in sending out copies of accounts and reports: contraventions

(1) If default is made in complying with section 405 (duty to circulate copies of annual accounts and reports) or 406 (time allowed for sending out copies of accounts and reports), a contravention of these Regulations is committed by—
(a) the company, and
(b) every officer of the company who is in default.
(2) A person who commits the contravention referred to in subsection (1) shall be liable to a fine of up to level 4.