Companies (Statutory Audits) Act 2018

Amendment of section 935 of Principal Act

36. Section 935 of the Principal Act is amended—

(a) in subsection (1)—

(i) in paragraph (a), by the substitution of “Part 27” for “the 2016 Audits Regulations”, and

(ii) in paragraph (b)(i), by the substitution of “that Part” for “those Regulations”,

(b) in subsection (2)—

(i) by the substitution of “section 934(8)” for “section 934(7)”,

(ii) by the substitution of “Chapters 2 to 4, or Chapter 8, of Part 27” for “Part 4 or Chapter 2 of Part 8 of the 2016 Audits Regulations”, and

(iii) by the substitution of “that Part” for “those Regulations”,

(c) by the substitution of the following subsection for subsection (3):

“(3) Where such an approval is withdrawn by the Supervisory Authority, section 1479(13) to (15) or, as the case may be, section 1480(13) to (15), shall, with all necessary modifications, apply to that withdrawal and section 934(11) and (12) shall not apply to that withdrawal.”,

(d) in subsection (4)—

(i) by the substitution of “section 934(8)” for “section 934(7)”, and

(ii) by the substitution of “Part 27” for “the 2016 Audits Regulations”,

and

(e) in subsection (5), in the definition of “member”, by the substitution of “Part 27” for “the 2016 Audits Regulations”.