Modifications etc. (not altering text)
C1Pt. 42 modified (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 43
C2Pt. 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S.I.) by The Statutory Auditors (Delegation of Functions etc) Order 2008 (S.I. 2008/496), art. 4 (which amending S.I. was revoked (2.7.2012) by S.I. 2012/1741, art. 6)
C3Pt. 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)
C4Pt. 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)
Textual Amendments
F1Ss. 1253D-1253F and cross-heading inserted (6.4.2008) by The Statutory Auditors and Third Country Auditors Regulations 2007 (S.I. 2007/3494), reg. 15(1) (with reg. 15(2) (as amended by S.I. 2008/499), reg. 2(4)))
(1)A statutory auditor may transfer audit working papers to an approved third country competent authority if the transfer is made—
(a)with the prior approval of the Secretary of State, and
(b)in accordance with rules of a recognised supervisory body meeting the requirements of paragraph 16AA of Schedule 10.
(2)The Secretary of State must not approve a transfer of audit working papers to an approved third country competent authority for the purposes of this section unless the following conditions are met (see also section 1253DD).
(3)The first condition is that the authority has made a request to the Secretary of State for the transfer of the audit working papers.
(4)The second condition is that the audit working papers relate to audits of companies that—
(a)have issued securities in the third country in which the authority is established, or
(b)form part of a group issuing statutory consolidated accounts in that third country.
(5)The third condition is that the authority has entered into arrangements with the Secretary of State in accordance with section 1253E.]]
Textual Amendments
F2Ss. 1253D-1253DE substituted for s. 1253D (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), 2