Search
Search site

≡

Civil Penalties

Please note: These guidance notes are not intended to be definitive legal advice and should not be relied upon as such. The interpretation of legislation is a matter on which the Guernsey Registry cannot advise and entities/individuals need to form their own independent view on compliance with the legislation. Independent legal advice is advised where there is any uncertainty.

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Limited Companies - Civil Penalties

In order to support both the Bailiwick of Guernsey and the Registrar to meet the Financial Action Task Force (FATF) Recommendations 24 (transparency of beneficial ownership of legal persons) and 40 (international co-operation), new legislation has recently been passed, which enhances the Companies Fees and Penalties Regulations - full details of these can be found under 'The Companies (Registrar)(Fees and Penalties)(Amendment) Regulations 2023', 'The Companies (Registrar) (Fees and Penalties) (Amendment) (No 2) Regulations 2023' and 'The Companies (Registrar) (Fees and Penalties) (Amendment) (No 3) Regulations 2023'. These regulations therefore supersede the 2020 Regulations. 

The previous (2020 Regulations) legislation outlined the civil penalty for failure to file an annual validation, whereas the new and amended legislation sets out further instances where a civil penalty will also be applied - a table briefly outlining the failures/breaches relative to The Companies (Guernsey) Law 2008 and associated penalties is added to the guidance document, which is attached below, for information purposes. 

 

Guidance Note Description
pdf icon Limited Companies - Civil Penalties [299kb]Information on civil penalties for Limited Companies
pdf icon Limited Companies - Failure to file annual validation civil penalties Jan 2024 [120kb]Information on civil penalties for failure to file company annual validations.