Companies Act 2014 section 936A

Supplemental provisions in relation to section 934 — relevant directors

Section 936A requires the Supervisory Authority to notify the Corporate Enforcement Authority when a contravention involving the audit of a public-interest entity has been established or settled by agreement, and to provide assistance so the Corporate Enforcement Authority can decide whether to take action against a relevant director.

• The section is triggered when a specified person has been found to have committed, or has entered into a settlement agreement in respect of, a relevant contravention that relates to the audit of a public-interest entity.
• The Supervisory Authority must promptly notify the Corporate Enforcement Authority of the identity of the specified person, the nature of the contravention, and the public-interest entity involved.
• The Supervisory Authority must also supply the Corporate Enforcement Authority with whatever information, documents, and assistance it reasonably needs to decide on further action against a relevant director.
• The Corporate Enforcement Authority may then choose to investigate the relevant director, impose sanctions on the director for conduct that gave rise to the contravention, or both.

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