Companies Act 2014

F721[Sanctions which Authority may impose on relevant director for certain conduct

944AB

944AB. (1) This section applies to a relevant director the subject of a decision under section 944AA(2) that the director has engaged in conduct giving rise (whether in whole or in part) to a relevant contravention.

(2) Subject to section 944AC, the Authority may impose on the relevant director one or more of the following sanctions in relation to the relevant contravention:

(a) a direction to the relevant director that he or she cease the conduct giving rise (whether in whole or in part) to the contravention and abstain from any repetition of that conduct;

(b) a direction to the relevant director prohibiting the director, for the period specified in the direction (being a period of not more than 3 years’ duration), from performing functions in audit firms or public-interest entities;

(c) subject to section 944AF, a direction to the director to pay an amount, as specified in the direction but not exceeding €100,000, to the Authority.

(3) In default of payment of an amount referred to in subsection (2)(c), the Authority may recover that amount as a simple contract debt in any court of competent jurisdiction.]

Annotations

Amendments:

F721

Inserted (6.07.2022) by Companies (Corporate Enforcement Authority) Act 2021 (48/2021), s. 10, S.I. No. 335 of 2022.