Version Superseded: 17/06/2016
Point in time view as at 04/03/2015.
Companies Act 2006, Paragraph 16AB is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F116AB(1)The requirements of this paragraph are that—U.K.
(a)the transfer to the third country competent authority is made for the purposes of an investigation of an auditor or audit firm, and
(b)the following conditions are met.
(2)The first condition is that the authority has requested the audit working papers for the purposes of an investigation which has been initiated by itself or another third country competent authority established in the same third country.
(3)The second condition is that the audit working papers relate to audits of companies that—
(a)have issued securities in that third country, or
(b)form part of a group issuing statutory consolidated accounts in that third country.
(4)The third condition is that, where the authority has made the request for the audit working papers directly to the statutory auditor, the authority has given the Secretary of State advance notice of the request, indicating the reasons for it.
(5)The fourth condition is that the authority has entered into arrangements with the Secretary of State in accordance with section 1253E.]
Textual Amendments
F1Sch. 10 paras. 16A-16AB and respective cross-headings substituted for Sch. 10 para. 16A and cross-heading (15.11.2010) by The Companies Act 2006 (Transfer of Audit Working Papers to Third Countries) Regulations 2010 (S.I. 2010/2537), regs. 1(2), 5
Modifications etc. (not altering text)
C1Sch. 10 paras. 16A-16AB applied (15.11.2010) by The Companies Act 2006 (Transfer of Audit Working Paper to Third Countries) Regulations 2010 (S.I. 2010/2537), regs. 1(2), 8
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