(1) As soon as practicable after the directors have finished preparing thedirectors’ remuneration report, the directors shall approve the report and shall arrange for one of them or the secretary of the company to sign it.
(2) If a directors’ remuneration report is approved that does not comply with therequirements of this Act, each director of the company who—
(a) knew that it did not comply, or was reckless as to whether it complied; and
(b) failed to take reasonable steps to ensure compliance with those requirements, or to prevent the report from being approved, commits an offence and on conviction is liable to a fine not exceeding one million shillings.
(2) If a directors’ remuneration report is approved that does not comply with therequirements of this Act, each director of the company who—
(a) knew that it did not comply, or was reckless as to whether it complied; and
(b) failed to take reasonable steps to ensure compliance with those requirements, or to prevent the report from being approved, commits an offence and on conviction is liable to a fine not exceeding one million shillings.
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