Companies (Statutory Audits) Act 2018

Amendment of section 918 of Principal Act

24. Section 918 of the Principal Act is amended by the substitution of the following subsection for subsection (3):

“(3) Money received by the Supervisory Authority under this section may be used only for the purposes of meeting expenses properly incurred by it in performing its functions as the competent authority under Regulation (EU) No 537/2014 or this Act (including a function under section 905(2)(n)) in relation to statutory auditors of public-interest entities.”.