Paragraph 70

After paragraph 20 insert—

“Supplementary: funding of arrangements

20ZA.

(1)

This paragraph applies where, under regulation 3 of the Statutory Auditors and Third Country Auditors Regulations 2016, the competent authority has delegated the task of approving persons as eligible for appointment as statutory auditors to a body (“B”).

(2)

B must pay the costs incurred by—

(a)

the competent authority in carrying out activities mentioned in paragraphs 9 to 10C, 12, 13 and 16, or

(b)

another recognised supervisory body, in carrying out those activities as a result of the competent authority delegating a task to the other body,

in relation to any statutory auditor bound by B’s rules.”.