55.—(1) Paragraph 3 is amended as follows.U.K.
(2) For sub-paragraph (1) substitute—
“(1) A recognition order in respect of a body may be revoked by a further order made by the Secretary of State if at any time it appears to him—
(a)that any requirement of Part 2 of this Schedule, other than a requirement relating to a task delegated to the body under regulation 3 of the Statutory Auditors and Third Country Auditors Regulations 2016, is not satisfied in the case of the body,
(b)that the body has failed to comply with any obligation imposed on it by or by virtue of this Part of this Act, other than an obligation relating to a task delegated to the body under regulation 3 of the Statutory Auditors and Third Country Auditors Regulations 2016, or
(c)that the continued recognition of the body is undesirable having regard to the existence of one or more other bodies which have been or are to be recognised.”.
(3) After subparagraph (1), insert—
“(1A) A recognition order in respect of a body may be revoked by a further order made by the Secretary of State if at any time—
(a)one or more tasks delegated to the body under regulation 3 of the Statutory Auditors and Third Country Auditors Regulations 2016 has been reclaimed by the competent authority, and
(b)it appears to the Secretary of State that the continued recognition of the body is undesirable having regard to the circumstances in which the task or tasks were reclaimed.”.
(4) In sub-paragraph (10)(a), after “(1)” insert “ , (1A) ”.