10.—(1) The remuneration of auditors of a company who are appointed by the company in general meeting must be fixed by the company in general meeting or in such manner as the company in general meeting may decide.U.K.
(2) The remuneration of auditors who are appointed by the directors or the Authority must, as the case may be, be fixed by the directors or the Authority (and be payable by the company even where it is fixed by the Authority).
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)