(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.