Companies Act 2014 section 1458

Approval and signing of entity payment reports and consolidated payment reports

Section 1458 sets out the requirements for board approval and signing of entity payment reports and consolidated payment reports, including the consequences of non-compliance.

• Both entity and consolidated payment reports must be approved by the board of directors and signed by at least two directors (or by a sole director where only one exists)
• Every copy of a payment report delivered to the Registrar or otherwise circulated must state the names of the directors who signed the original report
• Failure to properly sign the original report or to include signatories' names on circulated copies is a category 2 offence for the company and any defaulting officer
• The term "officer" for the purposes of the offence provision extends to shadow directors and de facto directors