PART 5Amendments to the Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019

I114

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 M1—

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 ”.