SCHEDULE 5 continued
(b) references to an audited person are to a relevant authority,
(c) references to a statutory audit are to a local audit,
(d) references to statutory audit work are to local audit work, and
references (however expressed) to Part 42 of the Companies Act 2006
or any provision of that Part are to that Part or provision as it has
effect by virtue of this Schedule.
(2) Sub-paragraph (1) does not apply to a provision that—
is treated as forming part of Part 42 of the Companies Act 2006 by
virtue of any of the following provisions of this Schedule, and
provides for an expression listed in sub-paragraph (1) to have the
meaning it would have under that Part apart from its application by
virtue of this Schedule.
3 Omit the following provisions—
(a) Chapter 1 (introductory);
sections 1220 (qualifying bodies and recognised professional
qualifications), 1221 (approval of third country qualifications) and
1222 (eligibility of individuals retaining only 1967 Act authorisation);
(c) section 1223A (notification of matters relevant to other EEA States);
sections 1224A (restrictions on disclosure) and 1224B (offence of
disclosure in contravention of section 1224A);
(e) Chapter 3 (Auditors General);
(f) Chapter 5 (registered third country auditors);
sections 1253A to 1253F (co-operation with foreign competent
(h) section 1264 (consequential amendments);
(i) Schedule 11 (recognised professional qualifications);
Schedule 11A (specified persons, descriptions, disclosures etc for
purposes of section 1224A);
Schedule 12 (arrangements in which registered third country
auditors are required to participate);
(l) Schedule 14 (statutory auditors: consequential amendments).
In section 1212 (individuals and firms: eligibility for appointment as a
statutory auditor) omit subsection (2).