Companies Act 2014 section 1507

Relevant circumstances to be considered in imposing relevant sanctions on specified person

Section 1507 sets out the circumstances that the Supervisory Authority must consider when deciding what sanction to impose on a specified person for a contravention.

• The seriousness, duration and degree of responsibility relating to the contravention must be assessed
• The financial strength of the specified person — measured by total turnover for entities or annual income for individuals — is taken into account
• Any profits gained or losses avoided as a result of the contravention, and the level of cooperation with the Supervisory Authority and the person's recognised accountancy body, are considered
• Previous contraventions by the same specified person are also a relevant factor