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27. In paragraph 14 of Schedule 1 to the Policyholders Protection Act 1975 (additional provisions with respect to the Policyholders Protection Board), for sub-paragraph (3) substitute–
“(3) A person shall not be appointed as auditor by the Board under sub-paragraph (2) above unless he is eligible for appointment as a company auditor under section 25 of the Companies Act 1989.”.
1975 c. 75. Paragraph 14 of the Policyholders Protection Act 1975 has been amended by section 30 of and Schedule 2 to the Companies Consolidation (Consequential Provisions) Act 1985. That amendment is superseded by these Regulations.
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