Companies Act 2014 section 873

Notice by Director to remedy default

Section 873 allows the Corporate Enforcement Authority to issue on-the-spot fine notices where it reasonably believes a person has committed a category 3 or category 4 offence, giving the person an opportunity to remedy the default and pay a prescribed amount to avoid prosecution.

• The Authority may issue a notice to a person (or a company officer on behalf of the company) where it has reasonable grounds for believing a category 3 or 4 offence has been committed.
• The person has 21 days (or a longer period if specified in the notice) to remedy the default to the Authority's satisfaction and pay the prescribed amount.
• If the default is remedied and payment is made within the specified period, no prosecution will be brought; any payment made is non-refundable and is paid into the Exchequer.
• If the matter does proceed to prosecution, the defendant bears the burden of proving that a payment under the notice has already been made.