Companies Act 2006 (c. 46)

Part 42 U.K. Statutory Auditors

Modifications etc. (not altering text)

C1 Pt. 42 applied (with modifications) (4.4.2014 for specified purposes, 16.12.2014 in so far as not already in force) by Local Audit and Accountability Act 2014 (c. 2), s. 49(1), Sch. 5 paras. 1-27 (with Sch. 13 para. 11); S.I. 2014/900, art. 2(j); S.I. 2014/3319, art. 2(e) (as amended: (31.12.2020) by S.I. 2019/177, regs. 2, 57; 2020 c. 1, Sch. 5 para. 1(1) and S.I. 2019/504, regs. 1(2), 3-6; 2020 c. 1, Sch. 5 para. 1(1); and (1.7.2022) by 2022 c. 31, s. 186(6), Sch. 4 para. 216, Sch. 7 para. 28; S.I. 2022/734, reg. 2(a), Sch. (with regs. 13, 29, 30); and (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 82)

C2 Pt. 42 modified (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 43

C3 Pt. 42: functions transferred in part (6.4.2008 in accordance with art. 1 of the amending S.I.) by The Statutory Auditors (Delegation of Functions etc) Order 2008 (S.I. 2008/496), art. 4 (which amending S.I. was revoked (2.7.2012) by S.I. 2012/1741, art. 6)

C4 Pt. 42 applied (with modifications) (15.8.2008) by The Insurance Accounts Directive (Lloyd's Syndicate and Aggregate Accounts) Regulations 2008 (S.I. 2008/1950), reg. 6(5)

C5 Pt. 42: functions transferred in part (2.7.2012) by The Statutory Auditors (Amendment of Companies Act 2006 and Delegation of Functions etc) Order 2012 (S.I. 2012/1741), arts. 1(2), 7, 8, 9 (with art. 16)

Chapter 6 U.K. Supplementary and general

[F1 Cooperation with foreign competent authorities U.K.

Textual Amendments

F1 Ss. 1253A-1253C and cross-heading inserted (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 14(1) (with reg. 14(2))

1253C Notification to [F2 approved third country] competent authoritiesF3 ... U.K.

[F4 (1) If the Secretary of State receives notice from a recognised supervisory body under section 1223A(1) (notification of matters relevant to [F5 approved third country competent authorities]) that—

(a) a person has become eligible for appointment as a statutory auditor, or

(b) a person’s eligibility for appointment as a statutory auditor has been withdrawn,

the Secretary of State must notify the relevant [F6 approved third country competent authority].]

(2) In subsection (1) “[F7 approved third country competent authority]” means the [F7 approved third country competent authority] which has approved the person concerned F8 ... to carry out audits of annual accounts or consolidated accounts F9 ....

(3) The notification under subsection (1) must include the name of the person concerned and [F10 , in a case where a person’s eligibility for appointment as a statutory auditor has been withdrawn, the reasons for the withdrawal].

(4) The Secretary of State must notify the relevant [F11 approved third country competent authority] if he has reasonable grounds for suspecting that—

(a) a person has contravened the law of the United Kingdom, or any [F12 equivalent third country or transitional third country, relating to audit], and

(b) the act or omission constituting that contravention took place on the territory of [F13 an equivalent third country or transitional third country].

(5) In subsection (4) “[F14 approved third country competent authority]” means the [F14 approved third country competent authority] for the [F15 country or territory] in which the suspected contravention took place.

(6) The notification under subsection (4) must include the name of the person concerned and the grounds for the Secretary of State's suspicion.]

Textual Amendments

F2 Words in s. 1253C heading inserted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(a); 2020 c. 1, Sch. 5 para. 1(1)

F3 Words in s. 1253C heading omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(a); 2020 c. 1, Sch. 5 para. 1(1)

F4 S. 1253C(1) substituted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 42(2)

F5 Words in s. 1253C(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(b)(i); 2020 c. 1, Sch. 5 para. 1(1)

F6 Words in s. 1253C(1) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(b)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F7 Words in s. 1253C(2) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(c)(i); 2020 c. 1, Sch. 5 para. 1(1)

F8 Words in s. 1253C(2) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(c)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F9 Words in s. 1253C(2) omitted (31.12.2020) by virtue of The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(c)(iii); 2020 c. 1, Sch. 5 para. 1(1)

F10 Words in s. 1253C(3) substituted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 42(3)

F11 Words in s. 1253C(4) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(d)(i); 2020 c. 1, Sch. 5 para. 1(1)

F12 Words in s. 1253C(4)(a) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(d)(ii); 2020 c. 1, Sch. 5 para. 1(1)

F13 Words in s. 1253C(4)(b) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(d)(iii); 2020 c. 1, Sch. 5 para. 1(1)

F14 Words in s. 1253C(5) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(e)(i); 2020 c. 1, Sch. 5 para. 1(1)

F15 Words in s. 1253C(5) substituted (31.12.2020) by The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/177), regs. 2, 19(e)(ii); 2020 c. 1, Sch. 5 para. 1(1)