UK Act of Parliament 2004 United Kingdom

Companies (Audit, Investigations and Community Enterprise) Act 2004

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At a glance

What's here

42 compliance obligations, 4 practical guides across 2 topics · 1 journey

Penalty landscape

4 of 42 obligations carry an unlimited fine. 7 carry different penalties and 31 have no criminal penalty — flagged in the list below.

Who this Act binds

Business-side actors with duties under this Act, ranked by how often they appear.

  • Director or Officer 18
  • Trader 8
  • Any Person 7

Plus 9 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.

Step-by-step journeys using this legislation

Walkthroughs that take you from a real business situation to compliance.

Relevant guidance

Practical guides for businesses affected by this Act, ordered by how closely they engage with it.

Direct — cites this Act

3 guides

Supporting — topic alignment

1 guides

Other Acts binding the same actors

For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.

Directors and Officers also bound by 224 other Acts (top 5 shown)
Traders also bound by 219 other Acts (top 5 shown)
Any Person also bound by 749 other Acts (top 5 shown)

What this Act requires

Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.

Part 1 — Auditors, accounts, directors' liabilities and investigations

s.015

Disclosure of information by tax authorities

2 years imprisonment
  • Unauthorised disclosure of tax information Any Person
s.015

Restrictions on disclosure of information obtained under compulsory powers

2 years imprisonment
  • Disclose confidential information obtained under compulsory powers Any Person
Browse 28 other sections in this Part — procedural / definitional / commencement
s.015

Power of prescribed body to require documents, information and explanations

s.015

Permitted disclosure of information obtained under compulsory powers

s.015

Power to amend categories of permitted disclosure

s.018

Power to confer exemption from liability

Part 2 — Community interest companies

s.026

Community interest companies

  • Establish or convert a company into a community interest company (CIC) Trader
  • Form a CIC only if eligible and do not register it as a charity Director or Officer
s.030

Cap on distributions and interest

  • Limit asset distributions and interest to regulator‑set caps Director or Officer
  • Do not distribute assets or pay excessive interest Director or Officer
s.032

Articles of association

  • Ensure articles of association include required CIC provisions Director or Officer
  • Ensure Community Interest Company articles meet statutory requirements Trader
s.033

Names

  • Use required suffix in your CIC name Director or Officer
  • Use the correct legal name for your Community Interest Company (CIC) Trader
s.034

Community interest company reports

  • Prepare and file an annual Community Interest Company (CIC) report Director or Officer
  • Prepare and file annual community interest company report Director or Officer
s.036

Formation as community interest company: decision on eligibility

  • Ensure your company meets CIC eligibility requirements Director or Officer
Other duties (1) — Crown / regulator
  • CIC Regulator must decide if a company is eligible for CIC status Statutory regulator
s.036

Formation as community interest company: implementation of decision on eligibility

Other duties (1) — Crown / regulator
  • Registrar of Companies must incorporate and record CIC formation documents Statutory regulator
s.037

Becoming a community interest company: application to court to cancel resolutions

Other duties (1) — Crown / regulator
  • Court must decide whether to cancel or confirm CIC conversion resolutions Tribunal / Court
s.037

Becoming a community interest company: notice to registrar of court application or order

Fine up to £1,000
  • Fail to give registrar notice of court application or order Director or Officer
s.037

Becoming a community interest company: application and accompanying documents

  • Submit required documents when applying to become a Community Interest Company Director or Officer
  • Submit required documents when converting to a Community Interest Company Trader
s.038

Becoming a community interest company: implementation of decision on eligibility

Other duties (1) — Crown / regulator
  • Companies House must issue a new certificate upon CIC eligibility Statutory regulator
s.045

Appointment of director

Unlimited fine
  • Fail to notify regulator when a regulator‑appointed director leaves Director or Officer
s.048

Property

Unlimited fine
  • Fail to obey regulator’s property order Any Person
s.054

Ceasing to be a community interest company and becoming a charity: application to court to cancel resolutions

Other duties (1) — Crown / regulator
  • Court must decide whether to cancel resolutions to change a CIC to a charity Tribunal / Court
s.054

Ceasing to be a community interest company and becoming a charity: notice to registrar of court application or order

Fine up to £1,000
  • Fail to give required notice to registrar when ceasing as a CIC Director or Officer
s.054

Ceasing to be a community interest company and becoming a charity: application and accompanying documents

  • Submit required documents to convert a CIC into a charity Trader
  • Submit required documents when converting a CIC to a charity Director or Officer
s.055

Ceasing to be a community interest company and becoming a charity : consequences of Regulator’s decision

Other duties (1) — Crown / regulator
  • Companies House must update company records once a CIC becomes a charity Statutory regulator
s.059

Information

Fine up to £1,000
  • Disclose restricted information unlawfully Any Person
s.060

Offences

  • Officer liable for corporate offence committed with consent or neglect Director or Officer
s.061

Orders made by Regulator

Other duties (1) — Crown / regulator
  • CIC Regulator must provide reasons and notification for orders Statutory regulator
Browse 24 other sections in this Part — procedural / definitional / commencement
s.040

Becoming a community interest company: Northern Ireland charities

Part 3 — Supplementary

Browse 4 other sections in this Part — procedural / definitional / commencement

Schedules

Browse 6 other Schedules — structural / supplementary
Read the full Act on legislation.gov.uk (opens in a new tab)

Official guidance

Authoritative sources published by regulators or government explaining this legislation.

Enforcement and responsible bodies

The regulators that administer or enforce this legislation.

FRC

Primary

Financial Reporting Council

Regulates auditors, accountants, and actuaries. Sets UK Corporate Governance Code and Stewardship Code. Monitors corporate reporting and audit quality. Planned to become …

Insolvency Service

The Insolvency Service

Administers compulsory company liquidations and personal bankruptcies. Investigates director misconduct and can seek disqualification orders. Manages redundancy payments from the National Insurance …

CIC Regulator

Office of the Regulator of Community Interest Companies

Regulates Community Interest Companies, a special type of limited company for social enterprises that use profits for community benefit. Approves CIC registration …

UK Government

UK Government (Cross-Departmental)

Generic publisher code for cross-departmental government publications that don't map to a specific regulator or department. Used for guidance that spans multiple …

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Regulators

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