Companies Act 2014 section 112

Retention and inspection of documents

Section 112 sets out the requirements for companies to retain and make available for inspection all documentation relating to contracts for the acquisition of their own shares.

• A company must keep a copy of any share buy-back contract (or a written memorandum of its terms if not in writing) at its registered office for 10 years after the contract has been fully performed.
• These documents must be available for inspection by any member of the company during business hours, for not less than 2 hours daily.
• If a company refuses a member's request to inspect these documents, the member may apply to the court for an order compelling the company to allow the inspection.
• Failure to comply with these requirements is a category 3 offence, applying to both the company and any officer in default.