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Modifications etc. (not altering text)
C1Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
In this Chapter—
“audit committee” means a body which performs the functions referred to in Article 39(6) of the Audit Directive or equivalent functions;
“Audit Directive” means Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC;
“Auditor General” means—
the Comptroller and Auditor General,
the Auditor General for Scotland,
the Auditor General for Wales, or
the Comptroller and Auditor General for Northern Ireland;
“issuer” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 102A(6));
“network” means an association of persons other than a firm co-operating in audit work by way of—
profit-sharing;
cost sharing;
common ownership, control or management;
common quality control policies and procedures;
common business strategy; or
use of a common name;
“public interest [F2entity] ” means—
an issuer whose transferable securities are admitted to trading on a regulated market;
a credit institution within the meaning given by Article 4(1)(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council, other than one listed in Article 2 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and investment firms;
an insurance undertaking within the meaning given by Article 2(1) of Council Directive 1991/674/EEC of the European Parliament and of the Council on the annual accounts and consolidated accounts of insurance undertakings;
“regulated market” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 103(1));
“transferable securities” means anything which is a transferable security for the purposes of [F3Directive 2004/39/EC] [F3Directive 2014/65/EU] of the European Parliament and of the Council on markets in financial instruments.]
Textual Amendments
F1S. 494A inserted (17.6.2016) by The Statutory Auditors and Third Country Auditors Regulations 2016 (S.I. 2016/649), reg. 1(1)(a), Sch. 3 para. 12 (with reg. 1(12))
F2Word in s. 494A substituted (with effect in accordance with reg. 1(6)(8) of the amending S.I.) by The Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516), regs. 1(2), 12(15)
F3Words in s. 494A substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 4 para. 9(3) (with reg. 7)