516. Offence of failure to make return
(1) If a company makes default in complying with—
(a) section 514 (return of allotment of shares by limited company), or
(b) section 515 (return of allotment of new class of shares by unlimited company),
a contravention of these Regulations is committed by every officer of the company who is in default.
(2) A person who commits a contravention as described in subsection (1) is liable to a level 2 fine.
(3) In the case of default in delivering to the Registrar within 28 days after the allotment the return required by section 514 or 515—
(a) any person liable for the default may apply to the Court for relief, and
(b) the Court, if satisfied—
(i) that the omission to deliver the document was accidental or due to inadvertence, or
(ii) that it is just and equitable to grant relief,
may make an order extending the time for delivery of the document for such period as the Court thinks proper.