Section 607 | Penalty for contravention of this Chapter

(1)This section applies where a company contravenes—

section 593 (public company allotting shares for non-cash consideration), or

section 598 (public company entering into agreement for transfer of non-cash asset).

(2)An offence is committed by—

(a)the company, and

(b)every officer of the company who is in default.

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

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

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