In this Part “company records” means—
(a) any register, index, accounting records, agreement, memorandum, minutes or other document required by the Companies Acts to be kept by a company, and
(b) any register kept by a company of its debenture holders.
(1) Company records—
(a) may be kept in hard copy or electronic form, and
(b) may be arranged in such manner as the directors of the company think fit,
provided the information in question is adequately recorded for future reference.
(2) Where the records are kept in electronic form, they must be capable of being reproduced in hard copy form.
(3) If a company fails to comply with this section, an offence is committed by every officer of the company who is in default.
(4) A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.
(5) Any provision of an instrument made by a company before 12th February 1979 that requires a register of holders of the company's debentures to be kept in hard copy form is to be read as requiring it to be kept in hard copy or electronic form.
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