Companies Act 2014 section 934A

Supplemental provisions to section 934 — certain specified persons

Section 934A sets out what happens when the Supervisory Authority (IAASA) finds that an individual member of a prescribed accountancy body has committed a relevant contravention, including directions to the accountancy body and notification requirements.

• This section applies where a specified person has been found, under a section 934(8) decision, to have committed a relevant contravention.
• Where a relevant sanction is imposed, IAASA must direct the prescribed accountancy body of which the person is a member to take the necessary action arising from that sanction.
• The prescribed accountancy body is legally obliged to comply with any such direction from IAASA.
• IAASA must notify the accountancy body as soon as practicable of the sanction imposed, together with appropriate particulars of the person, the contravention, and the sanction.