The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) (No. 2) Regulations 2020
| Jurisdiction | UK Non-devolved |
| Citation | SI 2020/1247 |
| Year | 2020 |
2020 No. 1247
Exiting The European Union
Auditors
The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) (No. 2) Regulations 2020
Made 9th November 2020
Laid before Parliament 10th November 2020
Coming into force in accordance with regulation 1(2)
The Secretary of State makes the following Regulations in exercise of the powers conferred by sections 1240A, 1240B and 1292(1) of the Companies Act 20061.
In accordance with regulations 8(1) and 13(1) of the Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 20202, the Secretary of State is satisfied that the EEA States and Gibraltar have audit regulatory regimes which are comparable to that of the United Kingdom, and that the third country competent authorities of those countries are adequate in relation to their ability to co-operate with the competent authority of the United Kingdom on the exchange of audit working papers and investigation reports.
Citation and commencement
1.—(1) These Regulations may be cited as the Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) (No. 2) Regulations 2020.
(2) These Regulations come into force as follows—
(a)
(a) this regulation and regulation 3 come into force immediately before regulation 3 of the Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2020 comes into force;
(b)
(b) regulation 4 comes into force immediately before regulation 17 of the Companies and Statutory Auditors etc. (Consequential Amendments) (EU Exit) Regulations 20203comes into force;
(c)
(c) regulation 2 comes into force immediately before IP completion day.
Amendment of the Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019
2.—(1) The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 20194are amended as follows.
(2) In Schedule 1 (Approval of Equivalent Third Countries and Transitional Third Countries)—
(a)
(a) in paragraph 15—
(i) in sub-paragraph (1), after “Council Directive 84/253/EEC,” insert “and the EEA States, and Gibraltar,”;
(ii) for sub-paragraph (2), substitute—
“2. Approval is granted for an indefinite period, unless a date is recorded in column 2 of the Table against a country’s name, in which case the approval ceases to apply for financial years beginning after that date.”;
(b)
(b) in column 1 of Table 1, insert at the appropriate places—
"Austria"
"Belgium"
"Bulgaria"
"Croatia"
"Cyprus"
"Czech Republic"
"Denmark"
"Estonia"
"Finland"
"France"
"Germany"
"Gibraltar"
"Greece"
"Hungary"
"Iceland"
"Ireland"
"Italy"
"Latvia"
"Liechtenstein"
"Lithuania"
"Luxembourg"
"Malta"
"Netherlands"
"Norway"
"Poland"
"Portugal"
"Romania"
"Slovakia"
"Slovenia"
"Spain"
"Sweden";
(c)
(c) omit paragraph 2 and Table 2.
(3) In Schedule 2 (Approval of Third Country Competent Authorities), in column 2 of Table 3,...
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