Regulation 14 I1

United Kingdom

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 ”.

Annotations

Marginal citations

M1: Regulation 28 is amended by S.I. 2019/1392 (as further amended by regulation 29 of this instrument) and 2020/335.

Commencement

I1: Reg. 14 in force immediately before IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)