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Changes over time for: Section 523


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Version Superseded: 01/10/2015
Status:
Point in time view as at 04/03/2015. This version of this provision has been superseded.

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Changes to legislation:
Companies Act 2006, Section 523 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

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523Duty of company to notify appropriate audit authorityU.K.
This section has no associated Explanatory Notes
(1)Where an auditor ceases to hold office before the end of his term of office, the company must notify the appropriate audit authority.
(2)The notice must—
(a)inform the appropriate audit authority that the auditor has ceased to hold office, and
(b)be accompanied by—
(i)a statement by the company of the reasons for his ceasing to hold office, or
(ii)if the copy of the statement deposited by the auditor at the company's registered office in accordance with section 519 contains a statement of circumstances in connection with his ceasing to hold office that need to be brought to the attention of members or creditors of the company, a copy of that statement.
(3)The company must give notice under this section not later than 14 days after the date on which the auditor's statement is deposited at the company's registered office in accordance with section 519.
(4)If a company fails to comply with this section, an offence is committed by—
(a)the company, and
(b)every officer of the company who is in default.
(5)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.
(6)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.
Modifications etc. (not altering text)
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