Companies Act 2014 section 944AC

Relevant circumstances to be considered in imposing relevant sanctions on relevant director

Section 944AC sets out the circumstances the Corporate Enforcement Authority must consider when deciding what sanction to impose on a director of a public interest entity who has been found to have engaged in conduct giving rise to a relevant contravention.

• Applies where a director has been found under section 944AA to have engaged in conduct causing or contributing to a relevant contravention
• The Authority must weigh the seriousness and duration of the contravention, the director's degree of responsibility, and their financial strength including annual income
• Any profits gained or losses avoided by the director as a result of the contravention must be taken into account, so far as these can be determined
• The director's level of cooperation with the Supervisory Authority or Corporate Enforcement Authority, and any previous sanctions imposed on the director, are also relevant factors