Companies Act 2006

[F1 Cooperation with foreign competent authorities U.K.

Textual Amendments

F1 Ss. 1253A-1253C and cross-heading inserted (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 14(1) (with reg. 14(2))

1253A Requests to foreign competent authorities U.K.

The Secretary of State may request from F2 ... a third country competent authority such assistance, information or investigation as he may reasonably require in connection with the exercise of his functions under this Part.

Textual Amendments

F2 Words in s. 1253A omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 17; 2020 c. 1, Sch. 5 para. 1(1)

1253B Requests from [F3 approved third country competent authorities] U.K.

[F4 (1) The Secretary of State must take all necessary steps to—

(a) ensure that an investigation is carried out, or

(b) provide any other assistance or information,

if requested to do so by an [F5 approved third country competent authority] F6 ....]

[F7 (1A) Where the request includes a request for the transfer of audit working papers and investigation reports, the Secretary of State must act in accordance with section 1253D.]

(2) Within 28 days following the date on which he receives the request, the Secretary of State must—

(a) provide the assistance or information required by [F8 the requesting authority] under subsection (1)(b), or

(b) notify [F9 the requesting authority] of the reasons why he has not done so.

(3) But the Secretary of State need not take steps to comply with a request under subsection (1) if—

(a) he considers that complying with the request may prejudice the sovereignty, security or public order of the United Kingdom;

(b) legal proceedings have been brought in the United Kingdom (whether continuing or not) in relation to the persons and matters to which the request relates; or

(c) disciplinary action has been taken by a recognised supervisory body in relation to the persons and matters to which the request relates.

F10 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3 Words in s. 1253B heading substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 18(a); 2020 c. 1, Sch. 5 para. 1(1)

F4 S. 1253B(1) substituted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 41(2)

F5 Words in s. 1253B(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 18(b)(i); 2020 c. 1, Sch. 5 para. 1(1)

F6 Words in s. 1253B(1) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 18(b)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F7 S. 1253B(1A) inserted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 18(c); 2020 c. 1, Sch. 5 para. 1(1)

F8 Words in s. 1253B(2)(a) substituted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 41(3)(a)

F9 Words in s. 1253B(2)(b) substituted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 41(3)(b)

F10 S. 1253B(4) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 18(d); 2020 c. 1, Sch. 5 para. 1(1)

1253C Notification to [F11 approved third country] competent authoritiesF12 ... U.K.

[F13 (1) If the Secretary of State receives notice from a recognised supervisory body under section 1223A(1) (notification of matters relevant to [F14 approved third country competent authorities]) that—

(a) a person has become eligible for appointment as a statutory auditor, or

(b) a person’s eligibility for appointment as a statutory auditor has been withdrawn,

the Secretary of State must notify the relevant [F15 approved third country competent authority].]

(2) In subsection (1) “[F16 approved third country competent authority]” means the [F16 approved third country competent authority] which has approved the person concerned F17 ... to carry out audits of annual accounts or consolidated accounts F18 ....

(3) The notification under subsection (1) must include the name of the person concerned and [F19 , in a case where a person’s eligibility for appointment as a statutory auditor has been withdrawn, the reasons for the withdrawal].

(4) The Secretary of State must notify the relevant [F20 approved third country competent authority] if he has reasonable grounds for suspecting that—

(a) a person has contravened the law of the United Kingdom, or any [F21 equivalent third country or transitional third country, relating to audit], and

(b) the act or omission constituting that contravention took place on the territory of [F22 an equivalent third country or transitional third country].

(5) In subsection (4) “[F23 approved third country competent authority]” means the [F23 approved third country competent authority] for the [F24 country or territory] in which the suspected contravention took place.

(6) The notification under subsection (4) must include the name of the person concerned and the grounds for the Secretary of State's suspicion.]

Textual Amendments

F11 Words in s. 1253C heading inserted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(a); 2020 c. 1, Sch. 5 para. 1(1)

F12 Words in s. 1253C heading omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(a); 2020 c. 1, Sch. 5 para. 1(1)

F13 S. 1253C(1) substituted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 42(2)

F14 Words in s. 1253C(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(b)(i); 2020 c. 1, Sch. 5 para. 1(1)

F15 Words in s. 1253C(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(b)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F16 Words in s. 1253C(2) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(c)(i); 2020 c. 1, Sch. 5 para. 1(1)

F17 Words in s. 1253C(2) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(c)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F18 Words in s. 1253C(2) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(c)(iii); 2020 c. 1, Sch. 5 para. 1(1)

F19 Words in s. 1253C(3) substituted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 42(3)

F20 Words in s. 1253C(4) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(d)(i); 2020 c. 1, Sch. 5 para. 1(1)

F21 Words in s. 1253C(4)(a) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(d)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F22 Words in s. 1253C(4)(b) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(d)(iii); 2020 c. 1, Sch. 5 para. 1(1)

F23 Words in s. 1253C(5) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(e)(i); 2020 c. 1, Sch. 5 para. 1(1)

F24 Words in s. 1253C(5) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(e)(ii); 2020 c. 1, Sch. 5 para. 1(1)