Modifications etc. (not altering text)
C1Pt. II: Power to apply conferred (31.8.2000) by 1997 c. 25, s. 59D(4)(b) (as inserted (31.8.2000) by 1999 c. 22, s. 83(2) (with Sch. 14 para. 7(2)); S.I. 2000/1920, art. 3(b))
Pt. II (ss. 2-32) applied (with modifications) (1.4.2001) by S.I. 2001/734, art. 2
Pt. II (ss. 2-32) modified (1.4.2001) by S.I. 2001/734, art. 3
C2Pt. II modified (5.3.2008) by The Cheshire (Structural Changes) Order 2008 (S.I. 2008/634), arts. 1, 9(9)(a)
C3Pt. II modified (28.3.2008) by The Bedfordshire (Structural Changes) Order 2008 (S.I. 2008/907), arts. 1, 20(7)(a)
(1)Subject to subsection (2), where a Passenger Transport Executive have a subsidiary they shall exercise their control over it so as to ensure that it appoints only auditors who—
(a)are approved by the Commission for appointment as the subsidiary’s auditors, and
(b)are [F1eligible for the appointment under Part 42 of the Companies Act 2006].
(2)Where a company would, if an Executive and any other body or bodies subject to audit were a single body corporate, be a subsidiary of that body corporate—
(a)subsection (1) does not apply, but
(b)it is the joint duty of the Executive and the other body or bodies concerned to exercise such control over the company as the Executive are required by subsection (1) to exercise over a subsidiary of theirs.
(3)In this section “subsidiary” means a subsidiary within the meaning of section 736 of the M1Companies Act 1985.
Textual Amendments
F1Words in s. 31(1)(b) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 23 (with arts. 6, 11, 12)
Marginal Citations