where the undertaking concerned is unincorporated, to any necessary modifications to take account of that fact, and

to the modifications made by paragraph (2).

485 (appointment of auditors of private company: general),

485A (appointment of auditors of private company: additional requirements for public interest entities with audit committees),

485B (appointment of auditors of private company: additional requirements for public interest entities without audit committees),

485C (restriction on appointment of auditor of private company which is a public interest entity),

486 (appointment of auditors of private company: default power of Secretary of State),

486A (defective appointments: default power of Secretary of State),

487 (term of office of auditors of private company),

488 (prevention by members of deemed re-appointment of auditor), and

494ZA (the maximum engagement period).

in section 485(2)(a), the reference to “the time allowed for sending out copies of the company's annual accounts and reports” is to be construed as a reference to the time allowed under regulation 3(2)(a) of these Regulations for preparing the accounts required by regulation 3;

in section 485(2)(b), the reference to “the day on which copies of the company's annual accounts and reports for the previous financial year are sent out under section 423” is to be construed as a reference to the day on which the accounts required by regulation 3 are prepared;

in section 485A(4), the words after “Audit Regulation” are omitted;

in section 485B(4), the words after “must be drawn” are omitted;

in section 487(3), the reference to “the provisions of this Part as to removal and resignation of auditors” is to be construed as a reference to provisions in these Regulations, and to any public general Act governing an insurance undertaking, as to removal and resignation of auditors;

in section 488(3)(c), the reference to “the accounting reference period” is to be construed as a reference to the financial year.

section 495 (auditor's report on company's annual accounts);

section 496 (auditor’s report on strategic report and directors’ report);

section 498 (duties of auditor);

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

any necessary modifications to take account of the fact that the insurance undertaking is unincorporated, and

the modifications made by paragraph (2).

in section 505(1)(b) and section 506(2)(b), the references to the Secretary of State are to be construed as references to the Authority F1and the Financial Conduct Authority (if it is not the Authority), and

in section 506(1)(b), the reference to the copy of the report delivered to the registrar under Chapter 10 of Part 15 (filing of accounts and reports) is to be construed as a reference to any copy of the report made available for inspection by, or supplied to, the Authority F1and the Financial Conduct Authority (if it is not the Authority).

any member of the insurance undertaking who was also a member at the time of the removal, F3...

the AuthorityF4; F2and

the Financial Conduct Authority (in cases where it is not the Authority).

on grounds of divergence of opinion on accounting treatments or audit procedures, or

on any other improper grounds,

declare that any resolution of the insurance undertaking removing an auditor, or appointing a new auditor in his place, is void;

require the directors of the insurance undertaking to re-appoint the dismissed auditor until the next general meeting of the insurance undertaking;

give directions as to the conduct of the insurance undertaking's affairs in the future.

there are proper grounds for removing the auditor from office,

inform the appropriate audit authority that he has ceased to hold office, and

if the auditor resigns, be accompanied by a copy of any notice of resignation and a statement of the reasons for his resignation.

if he resigns, at the same time as he deposits his notice of resignation at the head office of the insurance undertaking or otherwise informs it of his resignation;

in any other case, not later than the end of the period of 14 days beginning with the date on which he ceases to hold office.

inform the appropriate audit authority that the auditor has ceased to hold office, and

if the auditor resigns, not later than the end of the period of 14 days beginning with the date on which the auditor first informs the insurance undertaking of his resignation (whether by notice deposited at its head office or otherwise);

in any other case, not later than the end of the period of 14 days beginning with the date on which the auditor ceases to hold office.

the auditor, and

if the auditor is a firm, every officer of the firm who is in default.

the insurance undertaking, and

every director of the insurance undertaking who is in default.

any person who purports to act as director, manager or secretary of the body is treated as an officer of the body, and

if the body is a company, any shadow director is treated as an officer of the company.

on conviction on indictment, to a fine, and

on summary conviction, to a fine not exceeding the statutory maximum.