90% Compound Reduction for Common Offences Under Companies and LLP Acts

The government has introduced Initiative 3, offering a 90% reduction from the original compound value for common offences under the Companies Act 1965, Companies Act 2016, and Limited Liability Partnerships Act 2012. This aims to reduce business operating costs, enhance corporate governance compliance, and improve operational efficiency. Offences include failure to file annual returns, prepare or distribute financial statements, hold annual general meetings, and submit required documents within prescribed deadlines. The offer covers both companies and limited liability partnerships.

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