Article 2 Interpretation

In these Rules—

• “the Act” means the Financial Services Act 1986;

• “auditor” means an auditor of an authorised person;

• “disciplinary action” means action of a kind mentioned in section 47A(4)(a) to (d) of the Act^f1, any similar action which a recognised self-regulating organisation or recognised professional body has power to take and, in the case of a recognised self-regulating organisation or recognised professional body, any power to impose a financial penalty;

• “matter” means any matter to which section 109 of the Act applies;

• “powers of intervention” means the powers conferred by Chapter VI of Part I of the Act and any similar powers exercisable by a recognised self-regulating organisation or a recognised professional body; and

• “the relevant regulator” means the person, organisation or body to which an auditor must communicate a matter by virtue of section 109 of the Act.