(1)
The Commission, on deciding that a director’s usual residential address is to be put on the public record, shall proceed as if notice of a change of registered particulars had been given—
(a)
stating that address as the director’s service address ; and
(b)
stating that the director’s usual residential address is the same as his service address.
(2)
The Commission shall give notice of having done so—
(a)
to the director ; and
(b)
to the company.
(3)
On receipt of the notice the company shall—
(a)
enter the director’s usual residential address in its register of directors as his service address ; and
(b)
state in its register of directors’ residential addresses that his usual residential address is the same as his service address.
(4)
If the company has been notified by the director in question of a more recent address as his usual residential address, it shall—
(a)
enter that address in its register of directors as the director’s service address ; and
(b)
give notice to the registrar as on a change of registered particulars.
(5)
If a company fails to comply with subsection (3) or (4), the company and each officer of the company are liable to a penalty for every day during which the default continues in such amount as the Commission shall specify in its regulations.
(6)
A director whose usual residential address has been put on the public record by the Commission under this section may not register a service address other than his usual residential address for five years from the date of the Commission’s decision.