SCHEDULE 2TRANSITIONAL PROVISIONS AND SAVINGS

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1

In Chapter 2 of Part 16 of the Companies Act 2006 (appointment of auditors)—

a

sections 489 and 490 (appointment of auditors by public companies) apply to appointments for financial years beginning on or after 1st October 2009;

b

section 491 (term of office of auditors of public company) applies to auditors appointed for financial years beginning on or after that date.

2

Sections 384, 385, 387 and 388(1), (3) and (4) of the 1985 Act or Articles 392, 393, 395 and 396(1), (3) and (4) of the 1986 Order continue to apply to appointments by public companies for financial years beginning before that date.