Companies (Statutory Audits) Act 2018

Amendment of section 916 of Principal Act

23. Section 916 of the Principal Act is amended by the insertion of the following subsection after subsection (7):

“(8) Levies imposed under this section on that class of prescribed accountancy bodies comprising recognised accountancy bodies may be used for the purposes of meeting expenses properly incurred by the Supervisory Authority in performing its function referred to in section 905(2)(ma).”.