SCHEDULES
SCHEDULE 18

Further minor and consequential amendments
PART 1

Amendments of FSMA 2000
10
1
Section 249 (disqualification of auditor for breach of trust scheme rules) is amended as follows.
2
In subsection (1) for the words from “it may” to the end substitute
it may do one or more of the following—
a
disqualify the auditor from being the auditor of any authorised unit trust scheme or authorised open-ended investment company;
b
publish a statement to the effect that it appears to the FCA that the auditor has failed to comply with the duty;
c
impose on the auditor a penalty, payable to the FCA, of such amount as the FCA considers appropriate.
3
For subsection (2) substitute—
2
Sections 345B to 345E have effect in relation to the taking of action under subsection (1) as they have effect in relation to the taking of action under section 345(2).
4
For the heading substitute “ Disciplinary measures ”.
Sch. 18 para. 10 in force at 24.1.2013 for specified purposes by S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3
Sch. 18 para. 10 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.