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The Statutory Auditors and Third Country Auditors Regulations 2016

Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Statutory Auditors and Third Country Auditors Regulations 2016 No. 649

This draft Statutory Instrument has been printed in substitution of the draft Statutory Instrument of the same title which was laid before Parliament and published on 12th May 2016 (ISBN 978-0-11-114686-6). It is being issued free of charge to all known recipients of that draft Statutory Instrument.

Draft Regulations laid before Parliament under paragraph 2 of Schedule 2 to the European Communities Act 1972, section 18A(8) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 and sections 1252(11), 1290 and 1292(4) of the Companies Act 2006, for approval by resolution of each House of Parliament.

Draft Statutory Instruments

2016 No. XXXX

Companies

Auditors

The Statutory Auditors and Third Country Auditors Regulations 2016

Made

***

Coming into force in accordance with regulation 1(1)

The Secretary of State is a Minister designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to auditors and the audit of accounts.

The Secretary of State makes these Regulations in exercise of the powers conferred by section 2(2) of the European Communities Act 1972, section 18A(1) and (3) and (6) of the Companies (Audit, Investigations and Community Enterprise) Act 2004(3) and by sections 494(1), (2)(b) and (4)(a), 519A(5), 1241(2)(c), 1252(1) and (8) and 1292(1)(a), (2) and (4) of, and paragraph 11(2) of Schedule 13 to, the Companies Act 2006(4).

In accordance with paragraph 2 of Schedule 2 to the European Communities Act 1972, sections 1252(11), 1290 and 1292(4) of the Companies Act 2006 and section 18A(8) of the Companies (Audit, Investigations and Community Enterprise) Act 2004, a draft of these Regulations has been laid before Parliament and approved by resolution of each House of Parliament.

(2)

1972 c. 68. Section 2(2) was amended by section 27 of the Legislation and Regulatory Reform Act 2006 (c. 51) and section 3 of, and Part 1 of the Schedule to, the European Union (Amendment) Act 2008 (c. 7).

(3)

2004 c. 27. Section 18A was inserted by section 38 of the Small Business, Enterprise and Employment Act 2015 (c. 26): see section 18A(5) for the definition of “specified”.

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