The Statutory Auditors and Third Country Auditors Regulations 2007 No. 3494

PART 6 U.K. OTHER AMENDMENTS AND REVOCATIONS

Meaning of “appropriate audit authority” and “major audit” U.K.

41.—(1) Section 525(1) of the Companies Act 2006 (meaning of “appropriate audit authority”) is amended as follows.

(2) In paragraph (a) after “major audit” insert “ (other than one conducted by an Auditor General) ”.

(3) In paragraph (b) after “an audit” insert “ (other than one conducted by an Auditor General) ”.

(4) After paragraph (b) insert—

“(c) in the case of an audit conducted by an Auditor General, the Independent Supervisor.”.

(5) In the closing words—

(a) for “ “Supervisory body” has the same meaning” substitute “ “Supervisory body” and “Independent Supervisor” have the same meaning ”;

(b) for “section 1217” substitute “ sections 1217 and 1228 ”.