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

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

Penalty landscape

7 of 48 obligations carry an unlimited fine. 7 carry different penalties and 34 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 17
  • Any Person 10
  • Trader 8

Plus 13 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 425 other Acts (top 5 shown)
Any Person also bound by 2338 other Acts (top 5 shown)
Traders also bound by 826 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.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
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.046

Removal of director

Other duties (1) — Crown / regulator
  • CIC Regulator must give notice and notify registrar on director removal Statutory regulator
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 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 20 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

s.sch002

For section 449 substitute— Provision for security of information obtained...

Unlimited fine
  • Unauthorised disclosure of confidential investigation information Any Person
s.sch002

For section 451 substitute— Punishment for furnishing false information (1) A person commits an offence if in purported compliance...

Unlimited fine
  • Provide false information to the regulator Any Person
s.sch002

In section 452— (a) for subsection (1) substitute—

Other duties (1) — Crown / regulator
  • Secretary of State must not compel disclosure of legally privileged or banking documents without conditions Crown / Minister / Government department
s.sch005

The Regulator must appoint a member of the Regulator’s staff...

Other duties (1) — Crown / regulator
  • CIC Regulator must appoint a staff member as Official Property Holder during absences or vacancies Statutory regulator
s.sch005

(1) As soon as possible after the end of each...

Other duties (1) — Crown / regulator
  • Official Property Holder must report annually to the Regulator Crown / Minister / Government department
s.sch007

(1) A person commits an offence if in purported compliance...

Unlimited fine
  • Provide false information to the CIC Regulator Any Person
Browse 59 other Schedules — structural / supplementary
s.sch002

(1) Schedule 24 (punishment of offences) is amended as follows....

s.sch002

The Companies Act 1985 has effect subject to the following...

s.sch002

After section 447 insert— Information provided: evidence (1) A statement made by a person in compliance with...

s.sch002

(1) Section 451A (disclosure of certain information) is amended as...

s.sch002

In section 732 (prosecution by public authorities)—

s.sch002

In section 733 (offences by bodies corporate)—

s.sch002

In section 734(1) (criminal proceedings against unincorporated bodies), for “447...

s.sch002

After Schedule 15B insert— SCHEDULE 15C Specified persons Section 449...

s.sch002

(1) Schedule 24 (punishment of offences) is amended as follows....

s.sch002

In section 124A(1)(a) of the Insolvency Act 1986 (petition for...

s.sch002

In section 8(1A)(b)(i) of the Company Directors Disqualification Act 1986...

s.sch002

In the table in section 87(4) of the Companies Act...

s.sch002

In paragraph 17 of Schedule 2 to the Criminal Justice...

s.sch002

In paragraph 24 of Schedule 4 to the Anti-terrorism, Crime...

s.sch002

In the Companies (Northern Ireland) Order 1990, omit Article 49...

s.sch002

The Companies Act 1985 has effect subject to the following...

s.sch002

In section 249E(2)(d) (rights to information)— (a) for “section 389A(1)...

s.sch002

In section 732(1) and (2)(a) (prosecution by public authorities), after...

s.sch002

In section 733(1) (offences by body corporate), after “216(3)” insert...

s.sch002

In section 734(1) (criminal proceedings against unincorporated bodies)—

s.sch003

(1) The period for which a person is appointed as...

s.sch003

(1) The Secretary of State may pay remuneration and travelling...

s.sch003

(1) The Regulator may, after consulting the Minister for the...

s.sch003

The person appointed to chair the Charity Commission may make...

s.sch003

Anything which the Regulator is authorised or required to do...

s.sch003

The Secretary of State may make payments to the Regulator....

s.sch003

(1) The Regulator must, in respect of each financial year,...

s.sch003

In Schedule 2 to the Parliamentary Commissioner Act 1967 (c....

s.sch003

In Part 3 of Schedule 1 to the House of...

s.sch004

(1) The Appeal Officer holds office for the period determined...

s.sch004

(1) The Secretary of State may pay remuneration and travelling...

s.sch004

The Secretary of State may make payments to the Appeal...

s.sch004

(1) Regulations may make provision about the practice and procedure...

s.sch004

In Schedule 2 to the Parliamentary Commissioner Act 1967 (c....

s.sch004

In Part 3 of Schedule 1 to the House of...

s.sch005

(1) The Official Property Holder is a corporation sole.

s.sch005

The Regulator must make available to the Official Property Holder...

s.sch005

(1) The Official Property Holder holds property vested in or...

s.sch005

(1) The Official Property Holder may recover his expenses in...

s.sch006

The Companies Act 1985 has effect subject to the following...

s.sch006

In paragraph 8(2) of the Schedule to the Limited Liability...

s.sch006

(1) Section 26 (prohibition on registration of certain names) is...

s.sch006

In section 27(4) (alternatives of statutory designations), after paragraph (d)...

s.sch006

In section 30(7) (further exemptions for company exempt from using...

s.sch006

In section 33(1) (person who is not a public company...

s.sch006

After section 34 insert— Penalty for improper use of “community...

s.sch006

In section 43(2)(b) (re-registration of private company as public: alteration...

s.sch006

Schedule 6 para.8

s.sch006

(1) Schedule 24 (punishment of offences) is amended as follows....

s.sch007

(1) The investigator of a community interest company may require...

s.sch007

(1) Nothing in paragraph 1 requires a person to produce...

s.sch007

(1) A statement made by a person in compliance with...

s.sch007

(1) This paragraph applies if a person fails to comply...

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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