Misuse of producer company name attracts daily penalties; directors face imprisonment and fines for disclosure and governance failures. Unauthorised use of the designation Producer Company Limited is a penal offence subject to daily fines. Directors and officers face criminal liability for ... Summary
Misuse of producer company name attracts daily penalties; directors face imprisonment and fines for disclosure and governance failures.
Unauthorised use of the designation Producer Company Limited is a penal offence subject to daily fines. Directors and officers face criminal liability for wilful refusal to supply information to members or authorised persons, including imprisonment and a turnover linked fine. Failure to hand over custody of books or property, or to convene annual or other general meetings, attracts prescribed fines and additional daily fines for continuing default.
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