Paragraph 22

(1)

A report required by paragraph 17 or 18 shall be made by accountants qualified under this Act for appointment as auditors of a company.

F1(2)

Such a report shall not be made by an accountant who is an officer or servant, or a partner of or in the employment of an officer or servant, of—

(a)

the company or any of its subsidiary undertakings,

(b)

a parent undertaking of the company or any subsidiary undertaking of such an undertaking.

(3)

The accountants making any report required for purposes of paragraph 17 or 18 shall be named in the prospectus.

Annotations

F1: Sch. 3 para. 22(2) substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 19(4)

F1: Schs. 1-15B repealed (prosp.) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16 and the repeal being partly in force, as to which see individual provisions