COMPANIES ACT (NORTHERN IRELAND) 1960

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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 141



141.(1) Every company shall cause to be kept proper books of account with
respect to

(a)all sums of money received and expended by the company and the matters in
respect of which the receipt and expenditure takes place;

(b)all sales and purchases of goods by the company;

(c)the assets and liabilities of the company.

(2) For the purposes of sub-section (1), proper books of account shall not be
deemed to be kept with respect to the matters aforesaid if there are not kept
such books as are necessary to give a true and fair view of the state of
the company's affairs and to explain its transactions.

(3) Subject to sub-section (4), the books of account shall be kept at the
registered office of the company or at such other place as the directors think
fit, and shall at all times be open to inspection by the directors.

(4) If books of account are kept at a place outside Northern Ireland there
shall be sent to, and kept at a place in, the United Kingdom and be at all
times open to inspection by the directors such accounts and returns with
respect to the business dealt with in the books of account so kept as will
disclose with reasonable accuracy the financial position of that business at
intervals not exceeding six months and will enable to be prepared in
accordance with this Act the company's balance sheet, its profit and loss
account or income and expenditure account, and any document annexed to any of
those documents giving information which is required by this Act and is
thereby allowed to be so given.

(5) If any person being a director of a company fails to take all reasonable
steps to secure compliance by the company with the requirements of this
section, or has by his own wilful act been the cause of any default by
the company thereunder, he shall, in respect of each offence, be liable on
summary conviction to imprisonment for a term not exceeding six months or to a
fine not exceeding two hundred pounds, so, however, that

(a)in any proceedings against a person in respect of an offence under this
section consisting of a failure to take reasonable steps to secure compliance
by the company with the requirements of this section, it shall be a defence to
prove that he had reasonable ground to believe and did believe that a
competent and reliable person was charged with the duty of seeing that those
requirements were complied with and was in a position to discharge that duty;
and

(b)a person shall not be sentenced to imprisonment for such an offence unless,
in the opinion of the court dealing with the case, the offence was committed
wilfully.][

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Northern Irish Legislation

COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 141