manxman8180 Posted October 17, 2006 Share Posted October 17, 2006 to-day's IOM Examiner page 3 has a piece about a question in Tynwald from Onchan's PK regarding the late/non-filing of the Sefton Group's Annual Return and how GFL was prosecuted by the USA Securities and Exchange Commission 'for repeated failure to file public documents on time'.... ..wonder how PK came by the info for the question??? Moreover, what the fuck is it to do with the national parliament? So a resident company is late with their returns. I bet there were hundreds of such companies in similar predicaments. Smacks of raising a question just for the sake of profile for me. Of course PK would never do that now would he. Link to comment Share on other sites More sharing options...
Billy One Mate Posted October 17, 2006 Share Posted October 17, 2006 What was the reply given in Tynwald to the question???????? I hope every time I am late with my return PK dosent ask a question about me. I do think once again that this showed that PK shoots from the hip with information given to him by others which he dosent fully understand. If he knew about Annual Returns he wouldnt ask for prosecution from the Government as their is late filing fees. The Seftons full audited accounts for Nov 2005 were issued to all the shareholders in February of this year at the AGM. He also goes on about inter related party transactions. What does he think Auditors do?????. These issues are always addressed at an Audit. Link to comment Share on other sites More sharing options...
manxchatterbox Posted October 17, 2006 Author Share Posted October 17, 2006 isn't it a matter of being able to show that those in charge of the Sefton are able to practise good corporate governance.. ....if you were a CSP director / company secretary then I can't belive the FSC wouldn't be too impressed if you were to let co Annual Returns be late.. Link to comment Share on other sites More sharing options...
mojomonkey Posted October 17, 2006 Share Posted October 17, 2006 isn't it a matter of being able to show that those in charge of the Sefton are able to practise good corporate governance.. ....if you were a CSP director / company secretary then I can't belive the FSC wouldn't be too impressed if you were to let co Annual Returns be late.. It's hardly worthy of national interest and a question in keys is it though? Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted October 18, 2006 Share Posted October 18, 2006 isn't it a matter of being able to show that those in charge of the Sefton are able to practise good corporate governance.. ....if you were a CSP director / company secretary then I can't belive the FSC wouldn't be too impressed if you were to let co Annual Returns be late.. There's a whole host of reasons why an annual return could be late...especially now with the declaration box with regard to financial statements. As Mojo says hardly a matter of national debate...except in the MCB universe it would appear. Link to comment Share on other sites More sharing options...
Gladys Posted October 18, 2006 Share Posted October 18, 2006 Apart from share transfers what is an annual return going to show you other than that the company is still awake? MCB, PK should never have taken this one up, and I would suggest ,neither should you. Link to comment Share on other sites More sharing options...
manxchatterbox Posted October 19, 2006 Author Share Posted October 19, 2006 but if a company doesn't file its Annual Return doesn't it get struck off?? surely that wouldn't be good for teh Sefton shareholders...and don't teh FSC have something to say about directors who can't get their Company's Annual Returns in on time??? Link to comment Share on other sites More sharing options...
mojomonkey Posted October 19, 2006 Share Posted October 19, 2006 but if a company doesn't file its Annual Return doesn't it get struck off?? surely that wouldn't be good for teh Sefton shareholders...and don't teh FSC have something to say about directors who can't get their Company's Annual Returns in on time??? I repeat, it's hardly worthy of national interest and a question in keys is it though? Link to comment Share on other sites More sharing options...
Gladys Posted October 19, 2006 Share Posted October 19, 2006 There is a summary fine for late filing of the annual return. Persistant non-filing of any returns opens the directors and officers responsible open to fines under the companies acts (and possible disqualification). Striking off for non-filing of the annual return involves a long process with notices to the company and individual directors; there is plenty of notice to put matters straight. A very large UK insurance company was struck off the UK registry many years ago for non-filing of annual returns, much to great embarassment and cost to get the company restored, so it can happen. Link to comment Share on other sites More sharing options...
manxchatterbox Posted October 19, 2006 Author Share Posted October 19, 2006 but it is if you've used some hard earned savings to buy some Sefton shares and are so entrusting the directors to ensure the company is properly and efficiently managed in accordance at least with the minimum requirements of the Companies Acts and if its not it makes you wonder what the directors and Company Secretary are being paid for... what are a directors responsibilities? and what are a Company secretary's responsibilities? do they differ from a director's?? Link to comment Share on other sites More sharing options...
Gladys Posted October 19, 2006 Share Posted October 19, 2006 Yes, a secretary's responsibilities differ significantly from those of a director, but perhaps not so much in this context. I agree, you would expect a company to be able to file its annual return on time. But there may be reasons why it is late, not least it may have been filed on time but with an error (possibly in the active share register), returned and is counted as filed late. In any case, late-filing of the annual return is not, in itself, fatal for the company. Link to comment Share on other sites More sharing options...
Billy One Mate Posted October 20, 2006 Share Posted October 20, 2006 MCB go back to sleeeeeeeep plsssssss. You are doing more damage to Sefton shareholders than the late filing of an annual return is. If you are so interested in the Seftons affairs PM me and I will send you a set of the last public accounts and statement of affairs issued to the shareholders last February (sorry I forgot you already have them because you commented on them with another silly statement eight months ago) Link to comment Share on other sites More sharing options...
Theskeat Posted October 20, 2006 Share Posted October 20, 2006 Its a pity the House Of Keys wasnt run by 24 Ferguson Lacey,s Link to comment Share on other sites More sharing options...
When Skies Are Grey Posted October 20, 2006 Share Posted October 20, 2006 Thank God it isn,t run by 24 illiterate Theskeat,s (sic) Link to comment Share on other sites More sharing options...
copycat Posted March 21, 2007 Share Posted March 21, 2007 keeping an eye open for an absent friend:- GFL allegedly owns something 14% of Millwall FC what do the supporters say:- Sorry if you have already seen this! Dear Millwall Supporter, Millwall is under attack. Under attack by an Isle of Man based property developer. Graham Lacey has bought 14% of the share vote. We strongly believe that he wants to build over The Den. It has happened at other clubs and it can happen to us. YOU with other Millwall shareholders can fight back though. We all know Millwall needs money to keep going. Chestnut Hill Ventures (the American investors) have offered to lend us £5 million. They have history with sport and regeneration. They are our best bet. If Lacey gets enough votes at the EGM on 28 March he can stop the Americans lending us money. The small shareholders like you and me can stop him. If you got a notice about the EGM it is VITAL that you sign the Proxy Form and send it back. It only needs a signature and a stamp. This must be done before 26 March. If you support Millwall and own shares send it back now. If we lose this vote we will lose Millwall. Together we can win. The Lions Trust This email is from The Lions Trust. If you do not want to receive future email from The Lions Trust please send an email with UNSUBSCRIBE in the title to the lionstrust@gmail.com . Thank you. The Lions Trust is the Millwall Supporters Trust. You can find out more about the Trust on our website; www.thelionstrust.co.uk http://boards.rivals.net/default.asp?sid=9...toid=2119097406 Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.