Accounts, audit and auditors
C136 Qualified auditors.
1
Subject to subsection (2) below, no person shall be a qualified auditor for the purposes of this Act unless F1he is eligible for appointment as a company auditor under section 25 of the Companies Act 1989.
2
Subject to subsection (3) below, for the purposes of any provision (except subsections (2) and (3) of section 32) of this Act a person who is not a qualified auditor under subsection (1) above shall nevertheless be a qualified auditor in relation to any particular registered society or branch if—
a
he was on 26th July 1968 an approved auditor appointed by the Treasury under section 30 of the M1Friendly Societies Act 1896, and
b
he audited the accounts and balance sheet of that society or branch for the year of account immediately preceding the year of account comprising that date and for every year of account since the first-mentioned year until the current year of account.
3
The Chief Registrar may at any time direct that a person who is a qualified auditor in relation to a particular society or branch or particular societies or branches by virtue of subsection (2) above shall cease to be so qualified from the date of that direction.