News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Libya faces £150 fine

With a civil war raging at home, it is unlikely to be top of the Libyan regime’s priorities. But Libya faces the fine unless the UK branch of its sovereign wealth fund files accounts today

With a civil war raging at home, NATO warplanes flying more than 100 missions a day over its airspace, and a freeze on its assets around the world, it is unlikely to be top of the Libyan regime’s priorities. But Libya faces a fine of £150 – which could rise to £1,500 – unless the UK subsidiary of its sovereign wealth fund files its accounts by the end of today.

Dalia Advisory Limited, the UK arm of the Libyan Investment Authority, is due to file its maiden accounts by today for the 12 months to the end of July 2010 with Companies House, a register of UK private companies. Companies that file their accounts late are automatically fined £150 by Companies House, and the penalty rises to £1,500 if the accounts are not filed within six months of being due.

WSJ Logo