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3rd March 1994
Coming into force
1st May 1994
Whereas it appears to the Treasury that auditors who are persons to whom section 109(1) of the Financial Services Act 1986(1) and the following Rules apply are not subject to satisfactory rules made or guidance issued by a professional body specifying circumstances in which matters are to be communicated as mentioned in that section;
Whereas a draft of these Rules has been approved by a resolution of each House of Parliament pursuant to section 109(4) of that Act;
The Treasury, in exercise of the powers conferred on them by section 109 of the Financial Services Act 1986 and of all other powers enabling them in that behalf, hereby make the following Rules:
1986 c. 60.The functions of the Secretary of State under section 109 of the Financial Services Act 1986 have been transferred to the Treasury by the Transfer of Functions (Financial Services) Order 1992 (S.I.1992/1315).That section has been amended by the Financial Services Act 1986 (Delegation) Order 1987 (S.I.1987/942) and by the Banking Coordination (Second Council Directive) Regulations 1992 (S.I. 1992/3218).
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