C3Part 16Audit

Annotations:
Modifications etc. (not altering text)

Chapter 4Removal, resignation, etc of auditors

Statement by auditor on ceasing to hold office

C1C2521Copy of statement to be sent to registrar

1

Unless within 21 days beginning with the day on which he deposited the statement under section 519 the auditor receives notice of an application to the court under section 520, he must within a further seven days send a copy of the statement to the registrar.

2

If an application to the court is made under section 520 and the auditor subsequently receives notice under subsection (5) of that section, he must within seven days of receiving the notice send a copy of the statement to the registrar.

3

An auditor who fails to comply with subsection (1) or (2) commits an offence.

4

In proceedings for such an offence it is a defence for the person charged to show that he took all reasonable steps and exercised all due diligence to avoid the commission of the offence.

5

A person guilty of an offence under this section is liable—

a

on conviction on indictment, to a fine;

b

on summary conviction, to a fine not exceeding the statutory maximum.

F16

Where an offence under this section is committed by a body corporate, every officer of the body who is in default also commits the offence. For this purpose—

a

any person who purports to act as director, manager or secretary of the body is treated as an officer of the body, and

b

if the body is a company, any shadow director is treated as an officer of the company.