INTERIM REVISED STATUTES OF ANGUILLA 2000
COMPANIES ACT
SCHEDULE
(Section 271)
OFFENCES AND PENALTIES
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5
Section of Act creating offence / General nature of offence / Penalty (corporate body) / Penalty (individual) / Daily default fine
11(7) / Person carrying on business under misleading name / $25,000 / $25,000, imprisonment for 6 months or both / $50
14(4) / Company using name that has been revoked by the Registrar / $25,000 / $25,000, imprisonment for 6 months or both
15(3) / Failing to state name or registered office in written communication or document issued by a company / $10,000 / $10,000
35(7) / Director authorising, permitting or acquiescing in the issue of shares of an authorised series before filing articles of amendment / $10,000 / $10,000
40(3) / Company making payment to purchase or acquire own shares when insolvent / $25,000 / $25,000, imprisonment for 6 months or both
41(4) / Company making payment to purchase or acquire own shares under section 41(3) when insolvent / $25,000 / $25,000, imprisonment for 6 months or both
42(3) / Company making payment to purchase or redeem redeemable shares when insolvent / $25,000 / $25,000, imprisonment for 6 months or both
45(8) / Company reducing stated capital when insolvent / $25,000 / $25,000, imprisonment for 6 months or both
52(2) / Company declaring or paying a dividend when insolvent / $25,000 / $25,000, imprisonment for 6 months or both
53(4) / Company paying a dividend out of unrealised profits / $25,000 / $25,000, imprisonment for 6 months or both
54(3) / Provision of illicit financial assistance by company or affiliated company / $25,000 / $25,000, imprisonment for 6 months or both
65(3)* / Individual acting as director when disqualified by Court / $25,000, imprisonment for 1 year or both
76(3) / Company or foreign company failing to notify a change in directors / $5,000 / $5,000 / $50
91(6) / Director failing to disclose interest in contract / $10,000 / $10,000
125(8) / Company failing to send notice of meeting of shareholders to consider extraordinary transaction / $10,000 / $10,000
126(4)* / Company failing to keep sufficient accounting records / $25,000 / $25,000, imprisonment for 6 months or both
127(2) / Company failing to keep accounts and returns at registered office / $25,000 / $25,000, imprisonment for 6 months or both
128(5) / Director failing to place financial returns of a public company before an annual meeting of shareholders / $10,000 / $10,000
130(5) / Company failing to keep consolidated financial returns at the registered office / $10,000 / $10,000
131(3) / Company publishing unapproved or unaudited financial statements / $10,000 / $10,000
132(2) / Company failing to send annual financial returns to shareholders. / $10,000 /$10,000
133(5) / Company failing to file financial statements with the Registrar / $5,000 / $5,000 / $50
136(3)* / Person acting as auditor while ineligible for appointment / $25,000, imprisonment for 6 months or both
143(3) / Auditor or former auditor failing to attend meeting of shareholders of a company / $10,000
144(3) / Company failing to send auditor’s comments to shareholders / $10,000 / $10,000
147(4) / Director or officer failing to notify auditor of an error or misstatement in financial statement / $25,000 /$25,000, imprisonment for 6 months or both
149(7) / Company failing to change registered office / $10,000 / $10,000 / $50
149(8)* / Person providing the registered office of a non-domestic company without a relevant licence / $25,000 / $25,000, imprisonment for 6 months or both / $50
150(7) / Company failing to change registered agent / $10,000 / $10,000 / $50
150(8)* / Person acting as registered agent of a non-domestic company without a relevant licence / $25,000 / $25,000, imprisonment for 6 months or both / $50
151(7) / Registered agent failing to file copy of notice of intention to cease to act with Registrar / $10,000 / $10,000 / $50
152(8) / Company failing to keep records / $25,000 / $25,000, imprisonment for 6 months or both
154(3) / Company failing to keep minutes and other records / $25,000 / $25,000, imprisonment for 6 months or both
156(2) / Person failing to take reasonable care of company’s records / $25,000 / $25,000, imprisonment for 6 months or both
157(6) / Person failing to permit access to company records, etc. / $10,000 / $10,000
158(4) / Company failing to file annual return / $5,000 / $5,000 / $50
172(3) / Company failing to maintain a register of charges / $25,000 / $25,000, imprisonment for 6 months or both
179(2)* / Company offering shares to the public before publishing a prospectus / $25,000 /$25,000, imprisonment for 1 year or both
183(2)* / Company failing to issue a new prospectus or give reasonable notice / $25,000 / $25,000, imprisonment for 1 year or both
188(3) / Foreign company carrying on business in Anguilla without being registered as a foreign company / $10,000 / $10,000
190(2) / Foreign company failing to file amended constituting instrument / $5,000 / $5,000
191(3) / Foreign company failing to file annual return / $5,000 / $5,000
192(3)* / Foreign company failing to comply with requirements regarding issuing prospectus and carrying on business in Anguilla / $25,000 / $25,000, imprisonment for 6 months or both
256(5)* / Person failing to comply with an order of the Court / $25,000 / $25,000, imprisonment for 6 months or both / $50
270(1)* / Person making a false or misleading report or return / $25,000, imprisonment for 1 year or both / $25,000
