PART 3Equivalent third countries and approved third country competent authorities
CHAPTER 2Procedures relating to approvals for third country competent authorities
Power of Secretary of State to take into account a report from the competent authority12
1
Before granting approval or provisional approval to a third country competent authority by relevant regulations, the Secretary of State may take into account a report prepared by the competent authority that assesses the extent to which the third country competent authority is adequate in relation to that authority’s ability to co-operate with the competent authority on the exchange of audit working papers and investigation reports.
2
The report of the competent authority may take account of any assessments of the third country competent authority carried out by or on behalf of an equivalent third country or a transitional third country.