Explanatory Notes

Companies Act 2006

2006 CHAPTER 46

8 November 2006

Commentary

Schedule 11: Recognised Professional Qualifications

Part 2: Requirements for recognition of a professional qualification

Chapter 5: Registered Third Country Auditors
Section 1241: Meaning of “third country auditor”, “registered third country auditor” etc

1582.This is a new provision that sets out the definition of a third country auditor and a registered third country auditor. The section provides that a third country auditor is an auditor (whether based in the UK or not) of the accounts of a company incorporated or formed in a non-EU country, whose shares are admitted for trading on a UK market such as the London Stock Exchange.