Companies Act 2014

F374 [ Provisions applicable where Director receives particulars, etc., from Supervisory Authority concerning relevant contravention and relevant director

957B.

957B. (1) This section applies where

(a) the Director has received from the Supervisory Authority particulars referred to in section 936A(2) and (where applicable) information and documents and assistance referred to in section 936A(3) , and

(b) in consequence thereof, the Director has investigated under Part 13 a relevant director in order to find whether or not the relevant director has engaged in conduct giving rise (whether in whole or in part) to a relevant contravention.

(2) Subject to section 957I(3) and (4) , where the Director finds that a relevant director has engaged in conduct giving rise (whether in whole or in part) to the relevant contravention, the Director may impose such relevant sanction on the relevant director as the Director considers appropriate after having regard to the circumstances referred to in section 957D(2) .

(3) Subject to subsection (4) , the relevant director the subject of a relevant decision may appeal to the court against the decision.

(4) An appeal under subsection (3) shall be brought within 3 months after the date on which the relevant director was notified of the relevant decision by the Director.

(5) A finding or relevant decision of the Director under this section is not a bar to any civil or criminal proceedings against the relevant director who is the subject of the finding or relevant decision.

(6) Subject to subsection (7) , the Director shall, as soon as is practicable after imposing under this section a relevant sanction on a relevant director, give particulars of the relevant director and of the sanction imposed to the Supervisory Authority.

(7) The Director shall immediately communicate to the Supervisory Authority particulars of any direction given by the Director under section 957C(2)(b) . ]

Annotations

Amendments:

F374

Inserted (21.09.2018) by Companies (Statutory Audits) Act 2018 (22/2018), s. 45, S.I. No. 366 of 2018.