Section 55C: Directions

55C. Directions (1) Where the Mauritius Institute of Professional Accountants has reasonable cause to believe that a professional accountant, a public accountant, a member firm or any other person falling under its regulatory purview has failed or is failing to take such measures as are required under this Act, or under any regulations, rules or guidelines made under this Act, it may give such written directions as appropriate to it, including but not limited to – (a) requiring to do or refraining from doing a specified act; (b) removing, or taking steps to remove, a specified employee, officer or partner from office, or to ensure that such person does not take part in the management or conduct of the business of the member, except as may be permitted by the Mauritius Institute of Professional Accountants; (c) appointing a specified person to a specified office for such period as may be specified in the direction; (d) implementing corrective measures; or (e) submitting, at such intervals as may be specified, reports on the implementation of corrective measures. (2) A direction given under subsection (1) may specify the time within, or the period during, which the direction shall be complied with. (3) A person to whom a direction is given under subsection (1) shall comply with the direction notwithstanding anything to the contrary contained in its constitution or in any contract or arrangement to which it is a party. (4) The Mauritius Institute of Professional Accountants shall not give a direction under this section unless it has first afforded the member concerned a reasonable opportunity to make written representations on the matter. (5) The Mauritius Institute of Professional Accountants may revoke or vary a direction issued under subsection (1) at any time by notice in writing. (6) Any person who fails to comply with a direction under subsection (1) shall commit an offence and shall, on conviction, be liable to a fine not exceeding one million rupees and to imprisonment for a term not exceeding 2 years. (7) Any person who knowingly hinders, obstructs or prevents compliance with a direction issued under this section shall commit an offence and shall, on conviction, be liable to a fine not exceeding one million rupees and to imprisonment for a term not exceeding 5 years. (8) Notwithstanding subsection (6), the Mauritius Institute of Professional Accountants may, where a person fails to comply with a direction under subsection (1), impose a penalty not exceeding 10,000 rupees for each day on which such breach occurs, provided the maximum penalty imposed for a breach does not exceed one million rupees.