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

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(1)—

(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”.

(1)

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