Regulation 96 Amendment of Regulation 537/2014

In Article 21 (conditions of independence)—

(a)

in the first subparagraph—

(i)

for “competent authorities” substitute “competent authority”;

(ii)

omit “and audit firms”;

(b)

in the second subparagraph, for “competent authorities” substitute “competent authority”;

(c)

in the third subparagraph—

(i)

for “those authorities” substitute “the competent authority”;

(ii)

for point (b), substitute—

“(b)
has held voting rights in a firm which was a statutory auditor”;

(iii)

in point (c)—

(aa)

omit “administrative,”;

(bb)

omit “or supervisory”;

(cc)

for “an audit firm” substitute “a firm which was a statutory auditor”;

(iv)

in point (d), for “an audit firm” substitute “a firm which was a statutory auditor”;

(d)

in the fourth subparagraph—

(i)

for “those authorities” substitute “the competent authority”;

(ii)

omit “and audit firms”.