Paragraph 6 Term of office of auditors of the aggregate accounts
An auditor of the aggregate accounts holds office in accordance with the terms of his or her appointment, subject to the requirements that—
the auditor does not take office until any previous auditor ceases to hold office; and
the auditor ceases to hold office at the end of the next period for appointing auditors unless re-appointed.
Where no auditor has been appointed by the end of the next period for appointing auditors, any auditor in office immediately before that time is deemed to be re-appointed at that time, unless—
Lloyd's byelaws require actual re-appointment; or
the deemed re-appointment is prevented by the members of the Society of Lloyd's under paragraph 7; or
the members of the Society of Lloyd's have resolved that the auditor should not be re-appointed.
Notes on the whole SI
Textual amendments
- F1
Regulations revoked (14.12.2023 for the revocation of reg. 32) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(i)