Perpetual Funds (Registration) Act, 1933


14.—(1) If, in respect of any registered perpetual fund, default is made in complying with any of the requirements of this Act relating to any of the following matters, that is to say:—

(a) accounts and reports;

(b) the making of applications for the registration of alterations in the rules;

(c) the making of applications for the amendment of the register;

(d) the sending to the registrar notice of winding-up;

every trustee of such fund and also the secretary of such fund shall be guilty of an offence under this sub-section.

(2) If any person, required under this Act by the registrar to furnish any information or explanation which could with reasonable diligence be furnished by him, makes default in complying with such requirement within fourteen days after written notice thereof has been delivered to him, he shall be guilty of an offence under this sub-section.

(3) Any person guilty of an offence under either of the foregoing sub-sections of this section shall be liable on summary conviction thereof to a fine not exceeding five pounds, and, in the case of a continuing offence, to a further fine not exceeding five pounds for every week in which the offence is continued.

(4) It shall be a good defence to any proceedings against any person under sub-section (1) of this section to prove that the default in respect of which such proceedings are brought occurred without the consent or connivance of such person and was not facilitated by any neglect on his part.