Article 18 Duty of auditors to communicate matters to the Authority

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

art. 18 heading words substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 70(a)(iii)
art. 18(3) words substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 70(a)(i)
art. 18(3) words substituted by Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) 2013 Sch. 2 para. 70(a)(ii)

(1)

Nothwithstanding any repeal of the enactments specified by paragraph (2), those enactments, and any rules, regulations or orders made under those enactments in force immediately before commencement, continue to have effect in relation to any matter of which an auditor becomes aware in his capacity as an auditor that relates to things done (or not done) before commencement, subject to the modifications in paragraph (4) and, where relevant, paragraph (3).

(2)

The enactments specified by this paragraph are—

(a)

section 109 of the Financial Services Act^f1 (communication by auditor with Authority), to the extent that it relates to the obligation to communicate a matter;

(b)

section 47 of the Banking Act^f2 (communication by auditor with the Authority), to the extent that it relates to the obligation to communicate a matter;

(c)

section 21A of the Insurance Companies Act^f3 (communication by auditor), to the extent that it relates to the obligation to communicate a matter;

(d)

section 82(8) to (11) of the Building Societies Act^f4 (auditors' duties to Commission), to the extent that it relates to the obligation to furnish information; and

(e)

section 79(8) to (11) of the Friendly Societies Act^f5 (auditors' duties to Commission), to the extent that it relates to the obligation to furnish information.

(3)

For each reference to the Secretary of State, the Treasury, the Building Societies Commission or the Friendly Societies Commission, there is substituted a reference to the Authority (and so any communication made pursuant to those enactments must be made to the Authority).

(4)

Where an enactment specified by paragraph (2) refers to an auditor of a person (“A”) who has a particular status, that enactment applies after commencement as if that reference was to A having that status immediately before commencement.

Annotations

Footnotes

f1: Modified by S.I. 1992/3218, S.I. 1995/3275, S.I. 1996/1669. See also the Auditors (Financial Services Act 1986) Rules 1994 (S.I. 1994/526) as modified S.I. 1996/1669.
f2: Amended by the Bank of England Act 1998 (c. 11) Schedule 5 and S.I. 1996/1669 and modified by S.I. 1992/3218. See also the Accountants (Banking Act 1987) Regulations 1994 (S.I. 1994/524) as modified by S.I. 1996/1669.
f3: Inserted by the Financial Services Act s. 135 and amended by S.I. 1996/1669 and S.I. 1997/2781. See also the Auditors (Insurance Companies Act 1982) Regulations 1994 (S.I. 1994/449) as modified by S.I. 1996/1669.
f4: Amended by the Building Societies Act 1997 (c. 40), Schedule 7 and 9, S.I. 1991/1729 and S.I. 1996/1669. See also the Buildings Societies (Auditors) Order 1994 (S.I. 1994/525) as modified by S.I. 1996/1669.
f5: Amended by S.I. 1996/1669. See also the Friendly Societies (Auditors) Order 1994 (S.I. 1994/132) as modified by S.I. 1996/1669.