PART 4Application of provisions of the Act for the purposes of Part 3
Information given by an auditorI123
1
Sections 342 (information given by auditor or actuary to a regulator), 343 (information given by auditor or actuary to a regulator: persons with close links) and 344 (duty of auditor or actuary resigning etc to give notice) of the Act apply with respect to the auditor of a proxy advisor, and have effect for those purposes with the following modifications.
2
A reference to an authorised person is a reference to a proxy advisor.
3
A reference to a regulator or to the appropriate regulator is a reference to the FCA.
4
Ignore references to an actuary.
5
Section 342 is to be read as if—
a
subsection (2) were omitted; and
b
after subsection (3) there were inserted—
3A
Subsection (3B) applies in the case of an auditor (“A”) to whom this section applies by virtue of regulation 23(1) of the Proxy Advisors (Shareholders' Rights) Regulations 2019 (“the 2019 Regulations”).
3B
For the purposes of subsection (3) a matter on which any information or opinion is to be given by A must arise from, or be connected with, non-compliance or the manner of compliance by the person for whom A is, or has been, the auditor with a requirement imposed by Part 2 of the 2019 Regulations.
6
Section 343 is to be read as if—
a
subsection (2) were omitted; and
b
after subsection (3) there were inserted—
3A
Subsection (3B) applies in the case of an auditor (“A”) to whom this section applies by virtue of regulation 23(1) of the Proxy Advisors (Shareholders' Rights) Regulations 2019 (“the 2019 Regulations”).
3B
For the purposes of subsection (3) a matter on which any information or opinion is to be given by A must arise from, or be connected with, non-compliance or the manner of compliance by the person with whom CL has close links with a requirement imposed by Part 2 of the 2019 Regulations.
7
In section 344 ignore subsection (4).