The Financial Services and Markets Act 2000 (Communications by Auditors) Regulations 2001

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Financial Services and Markets Act 2000 (Communications by Auditors) Regulations 2001 and come into force on the day on which section 19 of the Act (the general prohibition) comes into force.

(2) In these Regulations—

“the Act” means the Financial Services and Markets Act 2000;

“the person concerned” means—

(a)

in relation to an auditor of an authorised person, that authorised person;

(b)

in relation to an auditor of a person who has close links (within the meaning of section 343 of the Act) with an authorised person, that authorised person;

“relevant requirement” means—

(a)

a requirement which is imposed by or under any provision of the Act other than Part VI (listing) and which relates to authorisation under the Act (whether by way of permission under Part IV of the Act or otherwise) or to the carrying on of any regulated activity; or

(b)

a requirement which is imposed by or under any other Act and whose contravention constitutes an offence which the Authority has power to prosecute under the Act(1).

(1)

See in particular section 402 of the Act (power of the Authority to institute proceedings for offences under other enactments).