Companies (Statutory Audits) Act 2018

Amendment of section 938 of Principal Act

39. Section 938 of the Principal Act is amended—

(a) in subsection (1), by the substitution of “or 935” for “, 935 or 935B”,

(b) in subsection (3), by the substitution of “or 935” for “, 935, 935B or 936”,

(c) by the substitution of the following subsections for subsections (4) and (5):

“(4) Subject to subsection (5), the Supervisory Authority may make regulations respecting the procedures to be followed in conducting enquiries under section 933 and investigations under section 934 or 935.

(5) There is no obligation to make regulations under subsection (4) with respect to a particular provision referred to in that subsection.”,


(d) by the insertion of the following subsections after subsection (5):

“(6) The Supervisory Authority shall, as soon as is practicable after making any regulations under subsection (4), publish the regulations on its website.

(7) Any information produced or answer given by a person (howsoever described) in compliance with a requirement under section 933, 934 or 935 may be used in evidence against the person in any proceedings whatsoever, save proceedings for an offence (other than perjury in respect of such an answer).

(8) A finding or decision of the Supervisory Authority under section 933, 934 or 935 is not a bar to any civil or criminal proceedings against the person (howsoever described) who is the subject of the finding or decision.”.