Statutory Instruments
COMPANIES
Made
7th July 1991
Laid before Parliament
11th July 1991
Coming into force
1st October 1991
The Secretary of State, in exercise of his powers under sections 35 and 36 of the Companies Act 1989(1), and of all other powers enabling him in that behalf, hereby makes the following Regulations:
1. These Regulations may be cited as the Companies Act 1989 (Register of Auditors and Information about Audit Firms) Regulations 1991 and shall come into force on 1st October 1991.
2. In these Regulations, unless the context otherwise requires–
“the Act” means the Companies Act 1989;
“business day” means any day which is not Saturday, Sunday, Christmas Day, Good Friday or a bank holiday within the meaning of the Banking and Financial Dealings Act 1971(2); and
“the register” means the register to be kept by virtue of regulation 2 below. Recognised supervisory bodies to keep register of auditors
2. –
(1) The recognised supervisory bodies, or, if there is only one recognised supervisory body, that recognised supervisory body, shall keep a register of–
(a)the individuals and firms eligible for appointment as company auditor, and
(b)the individuals holding an appropriate qualification who are responsible for company audit work on behalf of such firms.
(2) Each person’s entry in the register shall give–
(a)his name and address; and
(b)in the case of a person eligible as mentioned in paragraph (1)(a) of this regulation, the name of the relevant supervisory body.
(3) The responsibilities of each supervisory body, or, if there is only one supervisory body, of that supervisory body, in connection with the obligation imposed by paragraph (1) of this regulation shall be determined in accordance with regulation 3 of these Regulations.
3. –
(1) Where there is more than one recognised supervisory body, each recognised supervisory body shall co-operate with each other recognised supervisory body for the purpose of ensuring that each enter information on the register.
(2) Each recognised supervisory body, or if there is only one recognised supervisory body, that supervisory body, shall take reasonable care to ensure that, at all times–
(a)the register accurately states the individuals and firms eligible for appointment as company auditor under its rules and the individuals holding an appropriate qualification who are responsible for company audit work on behalf of such firms;
(b)the names and addresses shown on the register relating to persons falling within (a) above are correct; and
(c)its name appears on the register by virtue of regulation 2(2)(b) above only if the person in question is eligible for appointment as company auditor under its rules.
(3) To the extent that paragraph (2) of this regulation imposes a duty on a recognised supervisory body to take reasonable care to ensure that the register is amended to reflect changes in the information specified in that paragraph, the recognised supervisory body in question shall be regarded as having discharged that duty if it ensures that the register is appropriately amended within the period of 10 business days beginning with the day on which it becomes aware of the relevant change. Information about firms to be available to the public
4. A recognised supervisory body shall, in accordance with these Regulations, keep and make available to the public the following information in relation to each firm eligible under its rules for appointment as company auditor–
(a)where the firm is a body corporate, the name and address of each person who is a director of the body or holds any shares in it; and
(b)where the firm is a partnership, the name and address of each partner,
indicating which of the persons mentioned in sub-paragraphs (a) and (b) above is responsible for company audit work on behalf of the firm.
5. –
(1) The register shall be kept at the principal office in the United Kingdom of one of the recognised supervisory bodies, or, if there is only one recognised supervisory body, at the principal office in the United Kingdom of that body.
(2) The recognised supervisory body at whose principal office the register is kept shall ensure that it is open to inspection by any person during a period of at least two hours between the hours of 9am and 5pm in any business day.
(3) The recognised supervisory bodies, or if there is only one recognised supervisory body, that recognised supervisory body, shall ensure that the register may be inspected in each of the following ways–
(a)alphabetically; and
(b)by reference to recognised supervisory bodies.
(4) The recognised supervisory bodies, or, if there is only one recognised supervisory body, that recognised supervisory body, may charge a fee for inspection of the register or any part of it not exceeding £2.50 for each hour, or part of an hour, that is spent in conducting an inspection.
6. –
(1) Subject to paragraph (3), a recognised supervisory body shall ensure that the information it is required to keep and make available to the public by virtue of regulation 4 of these Regulations is open to inspection by any person during a period of at least two hours between the hours of 9am and 5pm in every business day at its principal office in the United Kingdom.
(2) A recognised supervisory body shall ensure that the information may be inspected in each of the following ways–
(a)alphabetically; and
(b)by reference to firm.
(3) A recognised supervisory body may charge a fee for inspection of the information or any part of it not exceeding £2.50 for each hour, or part of an hour, spent by a person in conducting an inspection.
7. –
(1) Subject to paragraph (2), the recognised supervisory bodies, or, if there is only one recognised supervisory body, that recognised supervisory body, shall ensure that any person may obtain a copy of any entry in the register, being a copy which is certified to be a true copy of the relevant entry by or on behalf of a recognised supervisory body.
(2) The recognised supervisory bodies, or, if there is only one recognised supervisory body, that recognised supervisory body, may charge a person a fee not exceeding 5p for a copy of an entry in the register.
(3) The recognised supervisory bodies, or, if there is only one recognised supervisory body, that recognised supervisory body, shall ensure that it is possible for a person to require copies of entries by each of the means mentioned in regulation 5(3) of these Regulations.
8. –
(1) Subject to paragraph (2), a recognised supervisory body shall ensure that any person may obtain a copy of the whole or any part of the information which it is required to keep by virtue of regulation 4 of these Regulations certified by the body to be a true copy of the relevant information.
(2) A recognised supervisory body may charge a person a fee not exceeding 5p for a copy of the information it keeps relating to any director of or shareholder in a firm which is a body corporate or any partner in a firm which is a partnership.
(3) A recognised supervisory body shall ensure that it is possible for a person to require copies of information by each of the means mentioned in regulation 6(2) of the Regulations.
John Redwood
Minister of State for Corporate Affairs,
Department of Tradeand Industry
7th July 1991
(This note is not part of the Regulations)
Regulation 2 of the regulations obliges supervisory bodies recognised under Part II of the Companies Act 1989 (eligibility for appointment as company auditor) to keep a register containing the information specified in the regulation. Regulation 3 of the regulations imposes certain obligations on recognised supervisory bodies in connection with the keeping of the register. Regulation 4 of the regulations obliges each recognised supervisory body to make the information specified in the regulation available to the public. Regulations 5 to 8 of the regulations make provision as to the keeping of the register; as to the inspection of it or of information kept by virtue of regulation 4 and as to the obtaining of copies of entries on the register or of information kept by virtue of regulation 4. Regulations 7 and 8 authorise the charging of fees for inspection and obtaining copies. The regulations implement article 28 of the Eighth Council Directive of 10 April 1984 on the approval of persons responsible for carrying out the statutory audits of accounting documents (84/253/EEC) (L.126/20).