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(1) The directors shall include in their report for a financial year—(a) the names of the persons who, at any time during the financial year, were directors of the company; and(b) the principal activities of the company during the course of the year.(2) In relation to a group directors' report, subsection (1)(b) has effect as ifthe reference to the company were a reference to the undertakings to which the relevant group financial statement relates.(3) Except in the case of a company that is subject to the small companiesregime, the directors shall specify in the report amount (if any) that the directors recommend should be paid as a dividend.(4) The regulations may specify other matters that are required to be disclosedin a directors' report.(5) If the directors of a company fail to comply with subsection (1) or (3), each director of the company who is in default commits an offence and on conviction is liable to a fine not exceeding five hundred thousand shillings.
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