Companies Act 2014 section 831

Offence for contravention of section 828

Section 831 establishes that it is a criminal offence for a company to breach the rules in section 828 regarding the acquisition of non-cash assets from subscribers or connected persons where a restricted person is involved.

• A company that contravenes section 828 commits a category 3 offence under the Companies Act 2014.
• Any officer of the company who is in default also commits a category 3 offence in their own right.
• Section 828 restricts companies with a restricted person from acquiring certain non-cash assets from subscribers or connected persons unless particular conditions are satisfied.
• Both the company as an entity and its defaulting officers face potential criminal liability for non-compliance.