332. Company’s Duty To Circulate Members’ Statement
(1) A company that is required under section 331 (members’ power to require circulation of statements) to circulate a statement must send a copy of it to each member of the company entitled to receive notice of the meeting–
(a) in the same manner as the notice of the meeting, and
(b) at the same time as, or as soon as reasonably practicable after, it gives notice of the meeting.
(2) Subsection (1) has effect subject to section 333(2) (deposit or tender of sum in respect of expenses of circulation) and section 334 (application not to circulate members’ statement).
(3) In the event of default in complying with this section, a contravention of these Regulations is committed by every officer of the company who is in default.
(4) A person who commits the contravention referred to in subsection (3) shall be liable to a level 2 fine.