120. List of members
(1) Every company having more than 50 members must keep a list of the names of the members of the company, unless the register of members is in such a form as to constitute in itself an list.
(2) The company must make any necessary alteration in the list within 14 days after the date on which any alteration is made in the register of members.
(3) The list must contain, in respect of each member, a sufficient indication to enable the account of that member in the register to be readily found.
(4) The list must be at all times kept available for inspection at the same place as the register of members.
(5) If default is made in complying with this section, a contravention of these Regulations is committed by—
(a) the company, and
(b) every officer of the company who is in default.
(6) A person who commits the contravention referred to in subsection (5) shall be liable to a level 1 fine.