# The Statutory Auditors and Third Country Auditors Regulations 2017, Regulation 9


In section 78A (interpretation of Part 6), for subsection (3) substitute—
“(3) References in this Part to a friendly society to which the Audit Directive applies are to a friendly society that is—
(a) an insurance undertaking within the meaning given by Article 2.1 of Council Directive 1991/674/EEC on the annual accounts and consolidated accounts of insurance undertakings, or
(b) an issuer whose transferable securities are admitted to trading on a regulated market.
(4) In subsection (3)—
(a) “issuer” and “regulated market” have the same meaning as in Part 6 of the Financial Services and Markets Act 2000; and
(b) “transferable securities” means anything which is a transferable security for the purposes of Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments.”.

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Source: https://www.legislation.gov.uk/uksi/2017/516/regulation/9 (the official version)
Page: https://openlegislation.uk/statutory-auditors-and-third-country-auditors-regulations-2017/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.