607. Offence in case of failure to cancel shares or re-register

(1) This section applies where a company, when required to do by section 602-
(a) fails to cancel any shares, or
(b) fails to make an application for re-registration as a private company,
within the time specified in subsection (3) of that section.
(2) A contravention of these Regulations is committed by-
(a) the company, and
(b) every officer of the company who is in default.
(3) A person who commits a contravention under this section is liable to a fine of up to level 8.