xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
12. After section 494 (disclosure of services provided by auditor or associates and related remuneration) insert—U.K.
In this Chapter—
“audit committee” means a body which performs the functions referred to in Article 39(6) of the Audit Directive or equivalent functions;
“Audit Directive” means Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC M1;
“Auditor General” means—
the Comptroller and Auditor General,
the Auditor General for Scotland,
the Auditor General for Wales, or
the Comptroller and Auditor General for Northern Ireland;
“issuer” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 M2 (see section 102A(6) M3);
“network” means an association of persons other than a firm co-operating in audit work by way of—
profit-sharing;
cost sharing;
common ownership, control or management;
common quality control policies and procedures;
common business strategy; or
use of a common name;
“public interest company” means—
an issuer whose transferable securities are admitted to trading on a regulated market;
a credit institution within the meaning given by Article 4(1)(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council M4, other than one listed in Article 2 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and investment firms M5;
an insurance undertaking within the meaning given by Article 2(1) of Council Directive 1991/674/EEC of the European Parliament and of the Council on the annual accounts and consolidated accounts of insurance undertakings M6;
“regulated market” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 103(1) M7);
“transferable securities” means anything which is a transferable security for the purposes of Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments M8.”.
Marginal Citations
M1OJ L 157/87 09.06.06. This Directive was amended by Directives 2008/30/EC, 2013/34/EU and 2014/56/EU.
M3Section 102A was inserted by S.I. 2005/1433 and amended by S.I. 2015/1755.
M4O.J. L176 27.06.2013, p.1-337.
M5O.J. L176 27.06.2013, p. 338-436.
M6O.J. L374 31.12.1991 p. 7-31.
M7Section 103 was substituted by S.I. 2005/1433 and amended by paragraphs 1 and 11 of Schedule 15 to the Companies Act 2006 (c. 46). There are other amendments but none is relevant.
M8O.J. L145 30.04.2004, p. 1-44.