PART 4OFFENCES
Penalties for non-compliance by auditors of qualifying partnerships16
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.