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The Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 2020

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14.  In Part 2—

(a)in regulation 5(c), for “exit day” substitute “ IP completion day ”;

(b)in regulation 6—

(i)in paragraph (a), in paragraph (a) of the substituted definition of “ audit committee ”, for “exit day” substitute “ IP completion day ”;

(ii)in paragraph (c)(iii), for “exit day” substitute “ IP completion day ”;

(c)in regulation 8(a)(iii), for “exit day” substitute “ IP completion day ”;

(d)in regulation 11(b)(ii), for “exit day” substitute “ IP completion day ”;

(e)in regulation 28 F1

(i)before paragraph (a), insert—

(za)in sub-paragraph (1)(a), for “an EEA auditor” substitute “ a third country auditor ”;

(zb)in sub-paragraph (1)(aa), for “an EEA auditor” substitute “ a third country auditor ”;

(zc)in sub-paragraph (1)(b), omit “which is not an EEA auditor”;;

(ii)for paragraph (a), substitute—

(a)omit sub-paragraph (1)(c);;

(iii)after paragraph (d), insert—

(da)in sub-paragraph (2C)(a), for “another EEA State” substitute “ an EEA State ”;;

(iv)omit paragraph (e);

(f)for regulation 29, substitute—

29.  In paragraph 7 (holding of appropriate qualification)—

(a)for sub-paragraph (2)(a), substitute—

(a)in relation to an individual, to that individual's—

(i)holding an appropriate qualification, or

(ii)being a third country auditor and meeting the requirements of paragraph 6(1)(aa)(ii) or 6(1A);;

(b)omit sub-paragraph (2)(b)(ii) and the “or” before it.;

(g)in regulation 30(b), for “exit day” substitute “ IP completion day ”;

(h)in regulation 32(d)(iii), for “exit day” substitute “ IP completion day ”;

(i)in regulation 38, for “exit day” substitute “ IP completion day ”;

(j)in regulation 40, for “exit day” substitute “ IP completion day ”.

F1Regulation 28 is amended by S.I. 2019/1392 (as further amended by regulation 29 of this instrument) and 2020/335.

Commencement Information

I1Reg. 14 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)

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