Regulation 2 Application for recognition of professional local audit qualification

(1)

A qualification is an appropriate qualification for the purposes of section 1219 of the Companies Act 2006 (appropriate qualifications) as it has effect by virtue of Schedule 5 to the Act (eligibility and regulation of local auditors) if it is—

(a)

offered by a qualifying body; and

(b)

the subject of an order (“a recognition order”) made by the Secretary of State recognising that qualification.

(2)

A qualifying body may apply to the Secretary of State for a recognition order.

(3)

An application must be—

(a)

made in such manner as the Secretary of State may direct; and

(b)

accompanied by such information as the Secretary of State may reasonably require for the purposes of determining the application.

(4)

At any time after receiving an application and before determining it the Secretary of State may require the applicant to supply additional information to assist with determining the application.

(5)

The directions given or requirements imposed under paragraphs (3) and (4) may differ as between different applications.

(6)

The Secretary of State may require any information to be supplied under this regulation to be in such form or verified in such manner as the Secretary of State may specify.

(7)

In the case of examination standards, the verification required may include independent moderation of the examinations over such period as the Secretary of State considers necessary.

(8)

Every application must be accompanied by—

(a)

a copy of the applicant's rules; and

(b)

a copy of any guidance issued by the applicant in writing.

(9)

The reference in paragraph (8)(b) to any guidance issued by the applicant is a reference to any guidance or recommendation—

(a)

issued or made by it to all or any class of persons holding or seeking to hold a qualification, or approved or seeking to be approved by the body for the purposes of giving practical training;

(b)

relevant for the purposes of Part 42 of the Companies Act 2006 as it has effect by virtue of Schedule 5 to the Act; and

(c)

intended to have continuing effect,

including any guidance or recommendation relating to a matter within paragraph (10).

(10)

The matters within this paragraph are—

(a)

admission to or expulsion from a course of study leading to a qualification;

(b)

the award or deprivation of a qualification; and

(c)

the approval of a person for the purposes of giving practical training or the withdrawal of such an approval,

so far as relevant for the purposes of Part 42 of the Companies Act 2006 as it has effect by virtue of Schedule 5 to the Act.