s.27Criminal penalties
27
Section 27Part 6 — ExemptionsAmended

Criminal penalties

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Amended by Supplement No. 1, Gazette No. 3 of 2026 on 23 Jan 2026
A legal person that contravenes section 6 or 1 4
or fails to issue a notice as required by section 8 or 1 4 , commits an offence and is liable on summary convict ion for each such contravention — c Revised as at 14th January, 2026 Page 29
in the case of a first offence, to a fine of twenty - five thousand dollars; or
in the case of a second or subsequent offence, to a fine of one hundred thousand dollars. ( 2 ) Where a legal person, other than a limited partnership, is convicted of a third offence under subsection (1), the court may order that the legal person be struck off the register by the Registrar in accordance with Part 6 of the Companies Act (2026 Revision) , section 31 of the Limited Liability Partnership Act (2025 Revision) or section 37 of the Exempted Limited Partnership Act (2025 Revision) as if it is a legal person that the Registrar has reasonable cause to believe is not carrying on business or is not in operation.
A corporate services provider who contravenes section 11 or 13 or fails to issue a notice as required by section 19(1) commits an offence and is liable on summary conviction —
in the case of a first offence, to a fine of twe nty - five thousand dollars; or
in the case of a second or subsequent offence, to a fine of one hundred thousand dollars.
A person to whom a notice under section 8 or 1 4 is addressed commits an offence if the person —
fails to comply with the n otice; or
in purported compliance with the notice —
makes a statement that the person knows to be false; or
recklessly makes a statement that is false.
A person who commits an offence under subsection (4) is liable —
on conviction on indictment —
in the case of a first offence, to a fine of twenty - five thousand dollars; or
in the case of a second or subsequent offence, to a fine of fifty thousand dollars or to imprisonment for a term of two years, or to both; or
on s ummary conviction to a fine of five thousand dollars or to imprisonment for a term of twelve months, or to both.
A person does not commit an offence under subsection (4)(a) if the person proves that the requirement to give information was frivolous or vexatious.
A person commits an offence if the person —
fails to comply with a duty under section 9 or 1 5 within the time required by the respective section; or
in purported compliance with such a duty —
makes a statement that the person knows to be false; or
recklessly makes a statement that is false.
A person who commits an offence under subsection (7) is liable —
on conviction on indictment —
in the case of a first offence, to a fine of twenty - five thousand dollars; or
in the case of a second or subsequent offence, to a fine of fifty thousand dollars or to imprisonment for a term of two years, or to both; or
on summary conviction to a fine of five thousand dollars or to imprisonment for a term of twelve mo nths, or to both.
A person who conducts a search of a legal person’s beneficial ownership register contrary to section 22(4) or discloses beneficial ownership information contrary to section 23 commits an offence and is liable on summary conviction to a fine of five thousand dollars or to imprisonment for twelve months, or to both.
A person commits an offence who knowing that a relevant interest is subject to restriction —
exercises or purports to exercise any right to dispose of the relevant interest;
exercises or purports to exercise any right to dispose of any right to be issued with the relevant interest; or
votes in respect of the relevant interest (whether as holder of the interest or as proxy) or appoints a proxy to vote in respect of the relevant interest.
A person commits an offence if the person —
has a relevant interest that the person knows t o be subject to restrictions or is entitled to an associated right; and
enters into an agreement that is void by virtue of section 20(1)(a) or 20(1)(e).
A person who commits an offence under subsection (1 1 ) is liable on summary conviction to a f ine of five thousand dollars.
A person does not commit an offence if the person contravenes subsection (10) or (11 ) in compliance with a direction of the Grand Court given under section 21.
Subject to a direction given by the Grand Court under s ection 21(1), a legal person that issues interests or shares in contravention of a restriction imposed by virtue of a restrictions notice, commits an offence and is liable on summary conviction to a fine of five thousand dollars.
Where a legal person commits an offence under this Act , and it is proved that the offence was committed with the consent or connivance of, or was c Revised as at 14th January, 2026 Page 31 attributable to wilful default on the part of a manager, director, member or other officer concerned in the management of the legal person, the manager, director, member or other officer commits the same offence and is liable to the same penalty as the legal person.

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