Payment to director for loss of office, etc., in connection with transfer of shares.

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....transfer resulting from (i) an offer made to the general body of shareholders; (ii) an offer made by or on behalf of some other body corporate with a view to the company becoming a subsidiary of such body corporate or a subsidiary of its holding company; (iii) an offer made by or on behalf of an individual with a view to his obtaining the right to exercise, or control the exercise of, not le....

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....ny notice of the offer made for their shares which is given to any shareholders. (3) If___ (a) any such director fails to take reasonable steps as aforesaid; or (b) any person who has been properly required by any such director to include the said particulars in, or send them with, any such notice as aforesaid fails so to do; he shall be punishable with fine which may extend to [1][two thous....