| [(1) | Where an auditor of a company sends a statement under section 519, the auditor must at the same time send a copy of the statement to the appropriate audit authority.] |
| (5) | A person ceasing to hold office as auditor who fails to comply with this section commits an offence. |
| (6) | If that person is a firm an offence is committed by— |
| (a) | the firm, and |
| (b) | every officer of the firm who is in default. |
| (7) | In proceedings for an offence under this section it is a defence for the person charged to show that he took all reasonable steps and exercised all due diligence to avoid the commission of the offence. |
| (8) | A person guilty of an offence under this section is liable— |
| (a) | on conviction on indictment, to a fine; |
| (b) | on summary conviction, to a fine not exceeding the statutory maximum. |
| NOTES |
| Derivation |
| This section is new. |
| Initial Commencement |
| To be appointed |
| To be appointed: see s 1300(2). |
| Appointment |
| Appointment: 6 April 2008: see SI 2007/3495, art 3(1)(e); for transitional provisions and savings see art 9, Sch 4, Pt 1, para 16 thereto. |
| Amendment |
| Section heading: words “send statement to” in square brackets substituted by the Deregulation Act 2015, s 18(5), Sch 5, Pt 1, paras 1, 9(1), (3). |
| Date in force: 1 October 2015: see SI 2015/1732, art 2(d); for savings and transitional provisions see arts 4, 6. |
| Sub–s (1): substituted, for sub–ss (1)–(4) as originally enacted, by the Deregulation Act 2015, s 18(5), Sch 5, Pt 1, paras 1, 9(1), (2). |
| Date in force: 1 October 2015: see SI 2015/1732, art 2(d); for savings and transitional provisions see arts 4, 6. |
| See Further |
| See further, in relation to the application of this section, with modifications, to limited liability partnerships where the auditor ceases to hold office on or after 1 October 2008: the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911, regs 2(1), (10), 46. |
| See further, in relation to the application of this section to unregistered companies: the Unregistered Companies Regulations 2009, SI 2009/2436, regs 3–5, 7, 9, Sch 1, para 11(1), Sch 2, para 33(1). |
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