Companies Act 2014 section 944Z

Definitions (sections 944Z to 944AH)

Section 944Z sets out the key definitions used throughout the provisions dealing with the investigation and sanctioning of directors (or former directors) of public interest entities who may have engaged in prohibited conduct.

• The section defines essential terms such as "court" (meaning the High Court), "relevant director", "relevant contravention", and "Supervisory Authority", all of which underpin the enforcement framework in sections 944Z to 944AH.
• A "relevant decision" can mean a finding that a director's conduct caused (wholly or partly) a relevant contravention, a decision to impose a sanction as a consequence, or both.
• Sanctions-related terms are defined, including "monetary sanction" (a financial penalty), "relevant sanction" (any sanction the Authority may impose), and "public notice of relevant sanction imposed" (the published details of a sanction and the director concerned).
• A "section 944AD agreement" refers to a settlement agreement between the Authority and the director, allowing suspected prohibited conduct to be resolved by agreement rather than through a formal sanctions process.

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