Companies Act 2014 section 1582

Savings for disciplinary proceedings in being - 2010 Audits Regulations

Section 1582 preserves the validity of disciplinary proceedings that were already underway before 17 June 2016, ensuring that changes introduced by the Companies (Statutory Audits) Act 2018 do not interfere with those proceedings or their outcomes.

• Disciplinary proceedings that were in progress before 17 June 2016 are not affected by the Companies (Statutory Audits) Act 2018 or its amendments to the Companies Act 2014.
• A recognised accountancy body may continue such proceedings against its members on and after that date.
• If the proceedings result in termination of the person's membership or withdrawal of the body's approval for the person to act as an auditor, any deemed approval of that person as a statutory auditor or audit firm under section 1471 ceases to have effect.
• This provision acts as a transitional safeguard, ensuring that pre-existing disciplinary cases are resolved under the rules that applied when they commenced, while still linking their outcomes to the current statutory audit approval framework.