Companies Act 2014

F375 [ Sanctions which Director may impose on relevant director for certain conduct

957C.

957C. (1) This section applies to a relevant director the subject of a decision under section 957B(2) that the director has engaged in conduct giving rise (whether in whole or in part) to a relevant contravention.

(2) Subject to section 957D , the Director 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 957G , a direction to the director to pay an amount, as specified in the direction but not exceeding 100,000, to the Director.

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

Annotations

Amendments:

F375

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