715 Directors' statement: offence if no reasonable grounds for opinion
715 Directors' statement: offence if no reasonable grounds for opinion
Companies Act 2006 | Legislation

(1)     If the directors make a statement under section 714 without having reasonable grounds for the opinion expressed in it, an offence is committed by every director who is in default.

(2)     A person guilty of an offence under this section is liable—

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

(b)     on summary conviction—

(i)     in England and Wales, to imprisonment for a term not exceeding twelve months or a fine not exceeding the statutory maximum (or both);