Section 425

(1) If a company required to comply with any of the provisions of sections 417 - 423 fails to do so, the company and every director or officer of the company are liable to a penalty as may be prescribed by the Commission.

(2) For the purposes of subsection (1), "officer" includes any person in accordance with whose directions or instructions the directors of the company are accustomed to act.

(3) Failure to file annual returns for a consecutive period of 10 years is a ground for striking the name of a company off the companies' register.