Companies Act 2006 (c. 46)

SCHEDULES

SCHEDULE 10 U.K. Recognised supervisory bodies

Modifications etc. (not altering text)

C1 Sch. 10 applied (with modifications) (4.4.2014 for specified purposes, 16.12.2014 in so far as not already in force) by Local Audit and Accountability Act 2014 (c. 2), s. 49(1), Sch. 5 para. 28 (with Sch. 13 para. 11); S.I. 2014/900, art. 2(j); S.I. 2014/3319, art. 2(e)

Part 3 U.K. Arrangements in which recognised supervisory bodies are required to participate

Supplementary: arrangements to operate independently of body U.K.

25 (1) This paragraph applies for the purposes of— U.K.

(a) paragraph 21(b),

(b) paragraph 22(b),

(c) [F1 paragraph 23(1)(c)], F2 . . .

[F3 (ca) [F4 paragraph 23A(1)(c)], or]

(d) [F5 paragraph 24(1)(c)].

(2) Arrangements are not to be regarded as appropriate for the purpose of ensuring that a thing is done independently of the body unless they are designed to ensure that the body—

(a) will have no involvement in the appointment or selection of any of the persons who are to be responsible for doing that thing, and

(b) will not otherwise be involved in the doing of that thing.

(3) Sub-paragraph (2) imposes a minimum requirement and does not preclude the possibility that additional criteria may need to be satisfied in order for the arrangements to be regarded as appropriate for the purpose in question.

Textual Amendments

F1 Words in Sch. 10 para. 25 substituted (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), 5(6)(a)

F2 Word in Sch. 10 para. 25(1)(c) omitted (1.10.2011 with application in accordance with reg. 1(6)) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) Regulations 2011 (S.I. 2011/1856), reg. 5(6)(a)

F3 Sch. 10 para. 25(1)(ca) inserted (1.10.2011 with application in accordance with reg. 1(6)) by The Statutory Auditors and Third Country Auditors (Amendment) Regulations 2011 (S.I. 2011/1856), reg. 5(6)(b)

F4 Words in Sch. 10 para. 25(1) substituted (1.10.2013) by The Statutory Auditors and Third Country Auditors Regulations 2013 (S.I. 2013/1672), regs. 3, 16(4)

F5 Words in Sch. 10 para. 25 substituted (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), 5(6)(b)