Valid from 20/01/2007
Modifications etc. (not altering text)
C1Pt. 42 modified (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 43
C2Pt. 42: functions transferred in part (6.4.2008 in accordance with art. 1 of the amending S.I.) by The Statutory Auditors (Delegation of Functions etc) Order 2008 (S.I. 2008/496), art. 4 (which amending S.I. was revoked (2.7.2012) by S.I. 2012/1741, art. 6)
C3Pt. 42 applied (with modifications) (15.8.2008) by The Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2008 (S.I. 2008/1950), reg. 6(5)
C4Pt. 42: functions transferred in part (2.7.2012) by The Statutory Auditors (Amendment of Companies Act 2006 and Delegation of Functions etc) Order 2012 (S.I. 2012/1741), arts. 1(2), 7, 8, 9 (with art. 16)
Prospective
Valid from 06/04/2008
(1)A recognised supervisory body must notify the Secretary of State of—
(a)any withdrawal of a notifiable person's eligibility for appointment as a statutory auditor; and
(b)the reasons for the withdrawal.
(2)A recognised supervisory body must also notify the Secretary of State of any reasonable grounds it has for suspecting that—
(a)a person has contravened the law of the United Kingdom, or any other EEA State or part of an EEA State, implementing the Audit Directive, and
(b)the act or omission constituting that contravention took place on the territory of an EEA State other than the United Kingdom.
(3)In this section “notifiable person” means a member of the recognised supervisory body in question—
(a)who is also an EEA auditor; and
(b)in respect of whom the EEA competent authority is not the recognised supervisory body itself.]
Textual Amendments
F1S. 1223A inserted (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 7(1) (with reg. 7(2) (as amended by S.I. 2008/499, reg. 2(3)))