Companies Act 2014

F586 [ Limitations on imposing monetary sanctions on specified person

1509.

1509. (1) If the Supervisory Authority decides to impose a monetary sanction on a specified person, the Supervisory Authority shall not impose an amount

(a) that would be likely to cause the specified person to cease business, or

(b) that would, if the specified person is an individual, be likely to cause the person to be adjudicated bankrupt.

(2) If the conduct engaged in by the specified person has given rise (whether in whole or in part) to 2 or more contraventions concerned, the Supervisory Authority shall not impose more than one monetary sanction on the person in respect of the same conduct. ]

Annotations

Amendments:

F586

Inserted (21.09.2018) by Companies (Statutory Audits) Act 2018 (22/2018), s. 51, S.I. No. 366 of 2018.