Section 236

Penalty for improper issue, circulation or publication of Financial Statements.—If any copy of financial statements is issued, circulated or published without there being annexed or attached thereto, as the case may be, a copy each of :

(i) any component of financial statements, reports, or statements referred therein,

(ii) the auditors’ report,

(iii) review reports on the statement of compliance,

(iv) the directors’ report and

(v) the statements of compliance, the company, and every officer of the company who is in default shall be liable to a penalty of level 1 on the standard scale.