Companies Act 2014 section 917

Supervisory Authority may levy certain companies and other undertakings

Section 917 empowers the Irish Auditing and Accounting Supervisory Authority (IAASA) to impose a financial levy on certain categories of companies and other undertakings in order to fund its reserve.

• IAASA may charge a levy on specified classes of companies and undertakings, including designated activity companies, to support its reserve fund.
• The total amount of the levy to be collected in any given financial year must be approved by the Minister.
• The criteria used to apportion the levy among different classes of companies and undertakings must also receive Ministerial approval.
• The levy mechanism ensures that the costs of the Supervisory Authority's regulatory functions are shared across the entities it oversees.