16.—(1) If a person ceasing to hold office as auditor fails to comply with regulation 12, an offence is committed by—
(a)that person, and
(b)if that person is a firm, every officer of the firm who is in default.
(2) In proceedings for an offence under this section 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.
(3) A person guilty of an offence under this regulation is liable—
(a)on conviction on indictment, to a fine, and
(b)on summary conviction, to a fine not exceeding the statutory maximum.
(4) The following provisions of the Companies Act 2006, namely—
(a)sections 1121 to 1123 (liability of officer in default),
(b)sections 1127 and 1128 (summary proceedings: venue and time limit for proceedings), and
(c)section 1130 (proceedings against unincorporated bodies),
apply to an offence under this regulation.