Explanatory Notes

Companies Act 2006

2006 CHAPTER 46

8 November 2006

Commentary

Schedule 5: Communications by a company

Part 42: Statutory Auditors

Chapter 2: Individuals and Firms
Section 1215: Effect of lack of independence

1550.This section sets out the consequences of the prohibition from acting as a statutory auditor on grounds of lack of independence, as defined in section 1214. They replicate the effect of ineligibility as explained for section 1213.