Qualifications of auditor
32.—(1) For the purposes of section 21 of the Act(1) (audit of accounts), it is hereby prescribed that the description of the person qualified to audit the accounts and statements of a company under regulation 29 above shall be a person who would be eligible for appointment as a company auditor to that company under Part II of the Companies Act 1989 or Part III of the Companies (Northern Ireland) Order 1990 (eligibility for appointment) if they were the accounts prepared under section 226 of the 1985 Act or under article 234 of the 1986 Order of a company within the meaning of that Act or that Order.
(2) Notwithstanding paragraph (1) above, a person to whom section 34(1) of the Companies Act 1989 (eligibility of individuals retaining only 1967 Act authorisation) applies shall not be qualified to audit the accounts and statements of a company under regulation 29 above.
Section 21 was amended by the Companies Consolidation (Consequential Provisions) Act 1985 (1985 c. 9), section 30 and Schedule 2; and by S.I. 1991/1997, reg. 2 and Schedule, paragraph 47.