Section 414D | Approval and signing of strategic report ^F1

(1)The strategic report must be approved by the board of directors and signed on behalf of the board by a director or the secretary of the company.^F1

(2)If a strategic report is approved that does not comply with the requirements of this Act, every director of the company who—^F1

(a)knew that it did not comply, or was reckless as to whether it complied, and^F1

(b)failed to take reasonable steps to secure compliance with those requirements or, as the case may be, to prevent the report from being approved,^F1

commits an offence.

(3)A person guilty of an offence under this section is liable—^F1

(a)on conviction on indictment, to a fine;^F1

(b)on summary conviction, to a fine not exceeding the statutory maximum.^F1