Section 316 | Expenses of circulating members' statement

(1)The expenses of the company in complying with section 315 need not be paid by the members who requested the circulation of the statement if—

(a)the meeting to which the requests relate is an annual general meeting of a public company, and

(b)requests sufficient to require the company to circulate the statement are received before the end of the financial year preceding the meeting.

(2)Otherwise—

(a)the expenses of the company in complying with that section must be paid by the members who requested the circulation of the statement unless the company resolves otherwise, and

(b)unless the company has previously so resolved, it is not bound to comply with that section unless there is deposited with or tendered to it, not later than one week before the meeting, a sum reasonably sufficient to meet its expenses in doing so.