Part 1: Companies House Reform Promoting the integrity of the register Section 87: Power to require businesses to report discrepancies
This section inserts new section 1110D into the Companies Act 2006 which gives the Secretary of State the power to make regulations in relation to discrepancy reporting.
	These regulations may require businesses to obtain specified information on their customers, or prospective customers, and report to the Registrar any discrepancies between the information obtained and that which the Registrar holds. The method of identifying and reporting these discrepancies may be set out in secondary legislation.
	Regulations under this section may also specify that reports on discrepancies made by businesses are to be withheld from public inspection.
	The regulations may also create offences for those who do not comply with reporting requirements. The penalty for this offence can be set in regulations to a maximum of 2 years imprisonment for conviction on indictment and 6 months for summary conviction.