Section 297, The Companies Act, 2009

(1) If in a year any of the requirements of subsection (1)or (3) of section 296 is not complied with by any company every person who immediately before the end of that period was a director of the company shall, in respect of each of those subsections which is not so complied with, be guilty of an offence and be liable to a daily default fine of Le500,000 in the case of a small company, a company limited by guarantee or an unlimited company, and Le600,000 in the case of any other company. (2) If a person is charged with an offence in respect of any of the requirements of subsection (1) or (3) of section 296, it shall be a defence for him to prove that he took all reasonable steps for ensuring that those requirements were complied with before the end of the period allowed for laying and delivering accounts. (3) In proceedings under this section with respect to a requirement to lay a copy of a document before a company in general meeting, or to deliver a copy of a document to the Commission, it shall not be a defence to prove that the document in question was not in fact prepared as required by this Part .