Companies Act 2014 section 930D

Conflicts of interest to be avoided

Section 930D requires certain key regulatory and oversight bodies to organise themselves so as to avoid conflicts of interest when carrying out their functions under the Companies Act 2014.

• The Supervisory Authority, the Corporate Enforcement Authority, the Registrar and the recognised accountancy bodies are all subject to this requirement
• Each of these bodies must structure its internal arrangements so that conflicts of interest do not arise in the performance of its statutory functions
• The obligation is organisational in nature — these bodies must proactively design their structures and processes to prevent conflicts, rather than simply react to them
• This provision was introduced by the Companies (Statutory Audits) Act 2018 and subsequently amended to refer to the Corporate Enforcement Authority following the Companies (Corporate Enforcement Authority) Act 2021