Section 357 | Records of decisions by sole member

(1)This section applies to a company limited by shares or by guarantee that has only one member.

(2)Where the member takes any decision that—

(a)may be taken by the company in general meeting, and

(b)has effect as if agreed by the company in general meeting,

he must (unless that decision is taken by way of a written resolution) provide the company with details of that decision.

(3)If a person fails to comply with this section he commits an offence.

(4)A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 2 on the standard scale.

(5)Failure to comply with this section does not affect the validity of any decision referred to in subsection (2).