Companies Act 2006

1210 Meaning of “statutory auditor” etc U.K.

(1) In this Part “statutory auditor” means—

(a) a person appointed as auditor under Part 16 of this Act,

(b) a person appointed as auditor under section 77 of or Schedule 11 to the Building Societies Act 1986 (c. 53),

(c) a person appointed as auditor of an insurer that is a friendly society under section 72 of or Schedule 14 to the Friendly Societies Act 1992 (c. 40),

(d) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F2 (e) a person appointed as auditor for the purposes of regulation 5 of the Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2008 or appointed to report on the “aggregate accounts” within the meaning of those Regulations,]

[F3 (f) a person appointed as auditor of an insurance undertaking for the purposes of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008,]

[F4 (g) a person appointed as auditor of a bank for the purposes of the Bank Accounts Directive (Miscellaneous Banks) Regulations 2008,]

(h) a person appointed as auditor of a prescribed person under a prescribed enactment authorising or requiring the appointment;

and the expressions “statutory audit” and “statutory audit work” are to be construed accordingly.

(2) In this Part “audited person” means the person in respect of whom a statutory audit is conducted.

(3) In subsection (1)—

• “bank” means a person who—

  (a)

  is a credit institution within the meaning given by [F5 Article 4.1] of Directive 2006/48/EC of the European Parliament and of the Council relating to the taking up and pursuit of the business of credit institutions [F6 as last amended by Directive 2009/111/EC], and

  (b)

  is a company or a firm as defined in Article 48 of the Treaty establishing the European Community;

• “friendly society” means a friendly society within the meaning of the Friendly Societies Act 1992 (c. 40);

• F7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• “insurer” means a person who is 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;

• “prescribed” means prescribed, or of a description prescribed, by order made by the Secretary of State for the purposes of subsection (1)(h).

(4) An order under this section is subject to negative resolution procedure.

Textual Amendments

F1 S. 1210(1)(d) omitted (6.4.2008) by virtue of The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008 (S.I. 2008/565), reg. 15(1)(b)(i)

F2 S. 1210(1)(e) substituted (15.8.2008) by The Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2008 (S.I. 2008/1950), reg. 31(1) (with reg. 31(2))

F3 S. 1210(1)(f) substituted (6.4.2008) by The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008 (S.I. 2008/565), reg. 15(1)(a)

F4 S. 1210(1)(g) substituted (6.4.2008) by The Bank Accounts Directive (Miscellaneous Banks) Regulations 2008 (S.I. 2008/567), reg. 14

F5 S. 1210(3): words in definition of "bank" substituted (9.2.2011 for certain purposes and 30.4.2011 for all other purposes) by The Electronic Money Regulations 2011(S.I. 2011/99), reg. 79, {Sch. 4 para. 5(b)(i)} (with reg. 3)

F6 S. 1210(3): words in definition of "bank" inserted (9.2.2011 for certain purposes and 30.4.2011 for all other purposes) by The Electronic Money Regulations 2011 (S.I. 2011/99), reg. 79, Sch. 4 para. 5(b)(ii) (with reg. 3)

F7 S. 1210(3): defininition of "industrial and provident society" omitted (6.4.2008) by virtue of The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008 (S.I. 2008/565), reg. 15(1)(b)(ii)

Commencement Information

I1 S. 1210 wholly in force at 6.4.2008; s. 1210 not in force at Royal Assent, see s. 1300; s. 1210 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 1210 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(u) (with savings in arts. 7, 12, Sch. 4 paras. 37-42)