- Draft legislation
This is a draft item of legislation and has not yet been made as a UK Statutory Instrument. This draft has been replaced by a new draft, The Statutory Auditors and Third Country Auditors Regulations 2016 ISBN 978-0-11-114704-7
6.—(1) The competent authority shall publish, in accordance with paragraphs (2) to (5) details of the sanctions it imposes under regulation 5.
(2) The details published under paragraph (1) must include—
(a)information concerning the type of contravention and its nature;
(b)unless any of the circumstances mentioned in paragraph (3) applies, the identity of the person (“A”) sanctioned under regulation 5; and
(c)where a sanction is subject to an appeal, information concerning the status and outcome of the appeal.
(3) The circumstances in which A’s identity must not be published are—
(a)where A is an individual and the competent authority considers the publication of personal data would be disproportionate;
(b)where publication would jeopardise the stability of financial markets;
(c)where publication would jeopardise an ongoing criminal investigation; and
(d)where publication would cause disproportionate damage to any institution or individual involved.
(4) The competent authority shall ensure that—
(a)information published under this regulation remains published for a proportionate period, and
(b)is available on the competent authority’s website for at least five years after the relevant date.
(5) In this regulation and regulation 8, “the relevant date” means—
(a)where the competent authority imposes a sanction and that decision is appealed, the date on which the appeal is determined,
(b)where the competent authority imposes a sanction and that decision is not appealed, the date by which the appeal should have been lodged.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: