(2)Subsection (1) does not prevent the use by a company of a name if—

(a)it is registered under this Act by that name,

(b)the period for complying with the direction or order has not yet expired, or

(c)the direction was given, or the order was made, before section 26 of the Economic Crime and Corporate Transparency Act 2023 came fully into force.

(3)For the purposes of subsection (1) it is irrelevant whether the person has, or has had, a relevant relationship with both companies at the same time.

(4)For the purposes of this section a person has a “relevant relationship” with a company if the person is—

(a)an officer, or

(b)a member or former member.

(5)If a company uses a name in contravention of this section an offence is committed by—

(a)the company, and

(b)every officer of the company who is in default.

(6)A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.

(7)In this section—

• “company” includes an overseas company;

• “relevant direction” means a direction under section 67, 75, 76A or 76B, other than a direction under section 76B(1)(b) given on the basis that, at the time at which a company’s name was registered, the Secretary of State had proper grounds for forming the opinion mentioned in section 57A.”