11.—(1) Subject to sub-paragraph (2), the power of the Secretary of State to make regulations under [F1section 494 of the Companies Act 2006] (remuneration of auditors or their associates for non-audit work) in relation to company auditors is to be exercisable in relation to auditors of open-ended investment companies—U.K.
(a)for like purposes; and
(b)subject to the same conditions.
(2) For the purposes of the exercise of the power to make regulations under [F2section 494 of the Companies Act 2006], as extended by sub-paragraph (1), the reference in [F3section 494(4)] to a note to a company’s accounts is to be taken to be a reference to the annual report of an open-ended investment company.
Textual Amendments
F1Words in Sch. 5 para. 11(1) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 222(a) (with arts. 6, 11, 12)
F2Words in Sch. 5 para. 11(2) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 222(b)(i) (with arts. 6, 11, 12)
F3Words in Sch. 5 para. 11(2) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 222(b)(ii) (with arts. 6, 11, 12)