Paragraph 90 Amendments to the Companies Act 2006

(1)

Schedule 10 to the Companies Act 2006 (recognised supervisory bodies)^f1 is amended as follows.

(2)

In paragraph 6 (holding of appropriate qualification)^f2—

(a)

in sub-paragraph (1A), omit the “or” following paragraph (a);

(b)

after sub-paragraph (1A)(b)(iii), insert—

“, or

(c)

the individual is a specified state auditor who—

(i)

holds professional qualifications obtained in a specified state that are comparable to an appropriate qualification, and

(ii)

has met a requirement to take an aptitude test or to complete an adaptation period, or to undertake both, imposed on the individual by the body in accordance with Part 2 of the Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023, if such a requirement is so imposed.”.

(3)

In paragraph 20A (interpretation)^f3, in subparagraph (1), after the definition of “public interest entity”, insert—

““specified state” means one of the states specified in Schedule 1 to the Recognition of Professional Qualifications and Implementation of International Recognition Agreements (Amendment) Regulations 2023;

“specified state auditor” means an individual who is eligible to conduct audits of the accounts of bodies corporate that are incorporated or formed under the law of a specified state in accordance with the law of that state;”.

Annotations

Footnotes

f1: 2006 c. 46.
f2: Paragraph 6(1A) was inserted by S.I. 2016/649, and amended by S.I. 2019/177 and 1392 and 2020/523.
f3: Relevant amending instruments are S.I. 2016/649 and 2019/177.