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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 17 June 2016 - onwards
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463. Liability for false or misleading statements in reports and statements

(1) The reports and statements to which this section applies are -

(za) the strategic report,

(a) the directors' report,

(b) the directors' remuneration report,

(c) [deleted]

(d) any separate corporate governance statement.

(2) A director of a company is liable to compensate the company for any loss suffered by it as a result of -

(a) any untrue or misleading statement in a report or statement to which this section applies, or

(b) the omission from a report or statement to which this section applies of anything required to be included in it.

(3) He is so liable only if -

(a) he knew the statement to be untrue or misleading or was reckless as to whether it was untrue or misleading, or

(b) he knew the omission to be dishonest concealment of a material fact.

(4) No person shall be subject to any liability to a person other than the company resulting from reliance, by that person or another, on information in a report or statement to which this section applies.

(5) The reference in subsect

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