The Supervision of Accounts and Reports (Prescribed Body) and Companies (Defective Accounts and Directors' Reports) (Authorised Person) Order 2012

It appears to the Secretary of State that the Conduct Committee of the Financial Reporting Council Limited M1—

1. a

   is a body having an interest in, and having satisfactory procedures directed to, monitoring compliance by issuers of transferable securities with accounting requirements imposed by Part 6 rules M2 in relation to periodic accounts and reports produced by such issuers;

2. b

   is otherwise a fit and proper body to be appointed to exercise the functions mentioned at section 14(2) of the Companies (Audit, Investigations and Community Enterprise) Act 2004 M3;

3. c

   will exercise its functions as a prescribed body in accordance with the requirements of this Order;

4. d

   is a person having an interest in, and having satisfactory procedures directed to, securing compliance by companies with the requirements of the Companies Act 2006 M4 (or, where applicable, Article 4 of the IAS Regulation M5) relating to accounts and directors' reports;

5. e

   is a person having satisfactory procedures for receiving and investigating complaints about companies' annual accounts and directors' reports;

6. f

   is otherwise a fit and proper person to be authorised for the purposes of section 456 of the Companies Act 2006; and

7. g

   will exercise its functions as an authorised person in accordance with the requirements of this Order.