Companies Act 2014 section 1110P

Offences and penalties

Section 1110P sets out the criminal offences and penalties that apply when a person or company fails to comply with the shareholders' rights and corporate governance obligations introduced by the European Union (Shareholders' Rights) Regulations 2020.

• Failure to comply with specified provisions across sections 1103 to 1110O is a category 3 offence, carrying potential fines and penalties.
• Where the person in breach is a company, both the company itself and any officer in default are guilty of the offence.
• The obligations covered span a wide range of corporate governance duties, including shareholder identification, information transmission, remuneration policies, proxy advisor transparency, and related party transactions.
• A defence exists for non-compliance with the requirement in section 1103(3)(e) where the person has instead complied with section 1103(5).