{
  "url": "https://openlegislation.uk/statutory-auditors-and-third-country-auditors-amendment-eu-exit-regulations-2019/regulation-43",
  "json_url": "https://openlegislation.uk/statutory-auditors-and-third-country-auditors-amendment-eu-exit-regulations-2019/regulation-43.json",
  "legislation": "uksi/2019/177",
  "legislation_title": "The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/statutory-auditors-and-third-country-auditors-amendment-eu-exit-regulations-2019",
  "path": "regulation/43",
  "kind": "regulation",
  "number": "43",
  "heading": null,
  "text": "In section 16 (grants to bodies concerned with accounting standards etc)—\n(a) after subsection (2)(ea) , insert—\n“(eb) assessing, and reporting to the Secretary of State on, the comparability of the audit regulatory regimes of third countries to the audit regulatory regime of the United Kingdom;\n(ec) assessing, and reporting to the Secretary of State on, the adequacy of third country competent authorities, in relation to their ability to co-operate with the competent authority on the exchange of audit working papers and investigation reports;”;\n(b) in subsection (5)—\n(i) after the definition of “accountancy functions” insert—\n““audit regulatory regime” in relation to a country or territory, means the system of public oversight, quality assurance, investigations and sanctions for auditors in that country or territory;”;\n(ii) after the definition of “company” insert—\n““the competent authority” means the Financial Reporting Council Limited ;”;\n(iii) after the definition of “subsidiary” insert—\n““third country” means a country or territory other than the United Kingdom;\n“third country competent authority” means a body established in a third country exercising functions related to the regulation or oversight of auditors.”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "Sub-section (2)(ea) was inserted by paragraph 1(3) of Schedule 5 to S.I. 2016/649."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "The definition of “company” was amended by paragraph 222(2) of Schedule 1 to S.I. 2009/1941."
    },
    {
      "type": "M",
      "label": "M3",
      "text": "A company registered in England and Wales with number 02486368."
    },
    {
      "type": "M",
      "label": "M4",
      "text": "The definition of “subsidiary” was amended by paragraph 222(3) of Schedule 1 to S.I. 2009/1941."
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 43 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2019/177/regulation/43",
    "retrieved_at": "2026-10-28T22:48:03.928748+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}