Section 1110B: Verification requirements, Companies Act 2006

The Secretary of State may by regulations make provision for and in connection with verification or reverification of an individual's identity for the purposes of this Act by the registrar or by an authorised corporate service provider.

The regulations may, in particular, make provision about—

the procedure for verifying or reverifying an individual's identity, including the evidence required;

the records that a person who is or has been an authorised corporate service provider is required to keep in connection with the verification or reverification of an individual's identity.

The regulations may create offences in relation to failures to comply with requirements imposed by virtue of subsection (2)(b).

The regulations must provide for any such offence to be punishable—

on conviction on indictment, by imprisonment for a term not exceeding two years or a fine (or both);

on summary conviction—

in England and Wales, by imprisonment for a term not exceeding the general limit in a magistrates' court or a fine (or both);

in Scotland, by imprisonment for a term not exceeding 12 months or a fine not exceeding the statutory maximum (or both) and, for continued contravention, a daily default fine not exceeding one-fifth of the statutory maximum;

in Northern Ireland, by imprisonment for a term not exceeding 6 months or a fine not exceeding the statutory maximum (or both) and, for continued contravention, a daily default fine not exceeding one-fifth of the statutory maximum.

The provision that can be made in regulations under this section includes provision conferring a discretion on the registrar, including provision conferring power to impose requirements by registrar's rules.

Regulations under this section are subject to affirmative resolution procedure.

Section 1110B: Verification requirements

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