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3 In section 148 (avoidance of certain exceptions to policies or securities), in
subsection (1), for the words from “Where a certificate” to “has been given,”
substitute “Where a policy or security is issued or given for the purposes of
this Part of this Act,”.

4 (1) 5Section 151 (duty of insurers or persons giving security to satisfy judgment
against persons insured or secured against third-party risks) is amended as
follows.

(2) In subsection (1), for the words from “a certificate of insurance” to “security
has been given,” substitute “a policy or security is issued or given for the
10purposes of this Part of this Act,”.

(3) In subsection (2)(a), omit “to which the certificate relates”.

5 In section 152 (exceptions to section 151), in paragraph (c) of subsection (1),
omit the words from “, and also” to the end of the paragraph.

6 In section 153 (bankruptcy, etc, of insured or secured persons not to affect
15claims by third parties), in subsection (1), for the words from “a certificate of
insurance” to “security has been given,” substitute “a person has effected a
policy of insurance or been given a security for the purposes of this Part of
this Act,”.

7 In section 161 (interpretation), omit subsection (2).

Section 11

20SCHEDULE 4 Agricultural Holdings Act 1986: resolution of disputes by third party
determination

1 The Agricultural Holdings Act 1986 is amended as follows.

2 In section 2 (restriction on letting agricultural land for less than from year to
25year), after subsection (4) (determination of disputes arising as to the
operation of the section in relation to any agreement to be by arbitration)
insert—

(5) Notwithstanding subsection (4) above, the parties to the agreement
may instead refer for third party determination under this Act the
30dispute that has arisen as to the operation of this section.

3 (1) Section 6 (right to written tenancy agreement) is amended as follows.

(2) After subsection (1) insert—

(1A) Where the landlord or tenant has the right under subsection (1)
above to refer the terms of the tenancy to arbitration under this Act,
35the landlord and tenant may instead refer the terms of the tenancy
for third party determination under this Act.

(3) In subsection (2) (contents of arbitrator’s award)—

(a) in the opening words, after “arbitrator in his award” insert “or (as the
case may be) the third party in his determination”;

(b) 40in paragraph (b), after “arbitrator” insert “or third party”.

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(4) In subsection (3) (power of arbitrator to vary rent in consequence of
award)—

(a) after “arbitrator” insert “or third party”;

(b) after “award” insert “or (as the case may be) his determination”.

(5) 5In subsection (4) (effect of arbitrator’s award)—

(a) after “The award of an arbitrator” insert “or (as the case may be) the
determination of a third party”;

(b) after “the award” (in each place where it occurs) insert “or
determination”.

(6) 10In subsection (6) (period when determination of the terms of the tenancy is
pending), after “award of an arbitrator” insert “or the determination of a
third party”.

4 In section 7 (model clauses as to the maintenance, repair and insurance of
fixed equipment), in subsection (2) (power for regulations to make provision
15for matters arising under them to be determined by arbitration), after
“arbitration” insert “or third party determination”.

5 (1) Section 8 (arbitration where terms of written agreement are inconsistent
with the model clauses) is amended as follows.

(2) After subsection (2) insert—

(2A) 20Where the landlord or tenant has the right under subsection (2)
above to refer the terms of the tenancy as to the maintenance, repair
and insurance of fixed equipment to arbitration under this Act (or
would have that right but for subsection (6) below), the landlord and
tenant may instead refer those terms for third party determination
25under this Act.

(3) In subsection (3) (arbitrator’s duty to consider terms and power to vary
them)—

(a) after “arbitrator” insert “or third party”;

(b) after “arbitration” insert “or (as the case may be) for third party
30determination”;

(c) after “award” insert “or determination”.

(4) In subsection (4) (power of arbitrator to vary rent in consequence of
award)—

(a) after “arbitrator” insert “or third party”;

(b) 35after “award” insert “or (as the case may be) his determination”.

(5) In subsection (5) (effect of arbitrator’s award)—

(a) after “The award of an arbitrator” insert “or (as the case may be) the
determination of a third party”;

(b) after “the award” (in each place where it occurs) insert “or
40determination”.

(6) In subsection (6) (references under section to be made at least 3 years
apart)—

(a) after “a reference” insert “to arbitration or third party
determination”;

(b) 45for “further such reference” substitute “subsequent reference to
arbitration”;

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(c) after “award of the arbitrator” insert “or (as the case may be) the
determination of the third party”.

(7) In the sidenote, after “Arbitration” insert “or third party determination”.

6 (1) Section 9 (transitional arrangements where liability in respect of fixed
5equipment transferred) is amended as follows.

(2) After subsection (1) insert—

(1A) Where the landlord has the right under subsection (1) above to
require that there shall be determined by arbitration under this Act
and paid by the tenant the amount of any relevant compensation (or
10would have that right but for the expiry of the prescribed period), the
landlord and tenant may instead refer for third party determination
under this Act the question of the amount of any relevant
compensation that the tenant is to be required to pay.

(3) In subsection (2) (definition of “relevant compensation”), for “subsection (1)
15above” (in the first place where it occurs) substitute “subsections (1) and (1A)
above”.

(4) After subsection (3) insert—

(3A) Where the tenant has the right under subsection (3) above to require
that there shall be determined by arbitration under this Act a claim
20of a type described in that subsection (or would have that right but
for the expiry of the prescribed period), the tenant and landlord may
instead refer the claim for third party determination under this Act.

(5) In subsection (4) (provision about disregarding a variation of the terms of a
tenancy as to the maintenance, repair or insurance of fixed equipment), after
25“arbitrator” insert “or third party”.

7 In section 10 (tenant’s right to remove fixtures and buildings), after
subsection (6) (determination by arbitration of any dispute between a
landlord and tenant as to the amount payable by the landlord under
subsection (4) on an election to purchase a fixture or building) insert—

(6A) 30Notwithstanding subsection (6) above, the landlord and tenant may
instead refer for third party determination under this Act the dispute
that has arisen with respect to the amount payable by the landlord
under subsection (4).

8 (1) Section 12 (arbitration of rent) is amended as follows.

(2) 35After subsection (1) insert—

(1A) The landlord and tenant may instead refer for third party
determination under this Act the question of how much rent is to be
payable in respect of the holding as from the next termination date.

(3) In subsection (2) (arbitrator’s duty to determine rent properly payable)—

(a) 40after “arbitrator” insert “or third party”;

(b) after “demand for arbitration” insert “or (as the case may be) the
reference for third party determination”.

(4) In subsection (4) (references to the next termination date following the date
of a demand for arbitration)—

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(a) after “a demand for arbitration” insert “, or reference for third party
determination,”;

(b) after “the demand” (in each place where it occurs) insert “or
reference”.

(5) 5In the sidenote, after “Arbitration” insert “or third party determination”.

9 In section 13 (increases of rent for landlord’s improvements), after
subsection (7) (determination of any dispute between a landlord and tenant
under the section to be by arbitration) insert—

(7A) Notwithstanding subsection (7) above, the landlord and the tenant
10may instead refer the dispute for third party determination under
this Act.

10 (1) Section 14 (variation of terms of tenancies as to permanent pasture) is
amended as follows.

(2) After subsection (2) insert—

(2A) 15Where the landlord or tenant has the right under subsection (2)
above to demand that the question described in that subsection shall
be referred to arbitration under this Act, the landlord and tenant may
instead refer that question for third party determination under this
Act.

(3) 20In subsection (3) (power of arbitrator to direct modification of terms as to
land which is to be maintained as permanent pasture or is to be treated as
arable land and as to cropping)—

(a) after “subsection (2)” insert “or (2A)”;

(b) after “arbitrator” insert “or third party”;

(c) 25after “award” insert “or (as the case may be) his determination”.

(4) In subsection (4) (power of arbitrator to order that, on termination of the
tenancy, the tenant should leave an area of land as permanent pasture or as
temporary pasture sown with certain seeds)—

(a) after “subsection (2)” insert “or (2A)”;

(b) 30after “arbitrator” insert “or third party”.

11 (1) Section 15 (disposal of produce and cropping) is amended as follows.

(2) In subsection (6) (determination by arbitration of question whether tenant
exercising subsection (1) rights in manner likely to injure holding etc), after
“(including an arbitration” insert “or third party determination”.

(3) 35After subsection (6) insert—

(6A) Notwithstanding subsection (6) above, the landlord and tenant may
agree that, for the purposes of proceedings brought by the landlord
under paragraph (a) of subsection (5) above, the question described
in subsection (6) is instead to be referred for third party
40determination under this Act.

(6B) On a reference under subsection (6A) above, the determination of the
third party shall, for the purposes of any proceedings brought under
subsection (5) above (including an arbitration or third party
determination under paragraph (b)) be conclusive proof of the facts
45stated in the determination.

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12 (1) Section 20 (compensation for damage by game) is amended as follows.

(2) After subsection (4) (amount of compensation to be determined by
arbitration, in default of agreement) insert—

(4A) Notwithstanding subsection (4) above, the tenant and landlord may
5instead refer for third party determination under this Act the
question of the amount of compensation to which the tenant is
entitled.

(3) After subsection (5) (determination by arbitration of questions as to the
landlord’s right to be indemnified against claims for compensation by the
10person in whom the right to kill and take the wild animals or birds that did
the damage is vested) insert—

(6) Notwithstanding subsection (5) above, the landlord and the other
person may instead refer for third party determination under this
Act the questions arising between them under that subsection.

13 15In section 25 (length of notice to quit), in subsection (3) (effect of
determination under section 12 by arbitrator), after “arbitrator” insert “or
third party”.

14 (1) Section 33 (reduction of rent where notice is given to quit part of holding) is
amended as follows.

(2) 20After subsection (2) (amount of rent reduction to be determined by
arbitration, in default of agreement) insert—

(2A) Notwithstanding subsection (2) above, the tenant and landlord may
instead refer for third party determination under this Act the
question of the amount of any reduction of rent to which the tenant
25is entitled under this section.

(3) In subsection (3) (matters to be taken into account by arbitrator)—

(a) after “arbitration” insert “or third party determination”;

(b) after “arbitrator” insert “or (as the case may be) the third party”.

15 In section 47 (terms of new tenancy unless varied by arbitration), in the
30sidenote, after “arbitration” insert “or third party determination”.

16 (1) Section 48 (arbitration on terms of new tenancy) is amended as follows.

(2) For subsection (3) substitute—

(3) Where the provisions of this section apply—

(a) the landlord or tenant may by notice in writing served on the
35other within the prescribed period demand a reference to
arbitration under this Act of one or both of the questions
specified in subsection (4) below, or

(b) the landlord and tenant may refer for third party
determination under this Act one or both of those questions.

(3) 40In subsection (5) (duties of arbitrator on reference of “question (a)”)—

(a) in the opening words—

(i) after “arbitration” insert “or third party determination”;

(ii) after “arbitrator” insert “or (as the case may be) the third
party”;

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(b) in paragraph (b), after “award” insert “or determination”.

(4) In subsection (6) (power of arbitrator to vary rent where “question (a)” but
not “question (b)” referred to arbitration)—

(a) after “arbitration” insert “or third party determination”;

(b) 5after “arbitrator” insert “or (as the case may be) the third party”;

(c) after “award” insert “or determination”

(5) In subsection (7) (duties of arbitrator on reference of “question (b)”)—

(a) after “arbitration” insert “or third party determination”;

(b) after “arbitrator” insert “or (as the case may be) the third party”.

(6) 10In subsection (10) (power of arbitrator to include further provisions in
award), after “award” insert “or (as the case may be) the third party may
include in his determination”.

(7) In subsection (11) (effect of arbitrator’s award made before “the relevant
time”)—

(a) 15after “award of an arbitrator” insert “or (as the case may be) the
determination of a third party”;

(b) after “award” (in the second place where it occurs) insert “or
determination”.

(8) In subsection (12) (effect of arbitrator’s award made after “the relevant
20time”)—

(a) after “award of an arbitrator” insert “or (as the case may be) the
determination of a third party”;

(b) after “award” (in the second place where it occurs) insert “or
determination”.

(9) 25In the sidenote, after “Arbitration” insert “or third party determination”.

17 In section 74 (supplementary provisions with respect to compensation:
termination of tenancy of part of holding), in subsection (2)(b) (matters to be
taken into consideration by arbitrator assessing amount of compensation
payable to tenant), after “arbitrator” insert “or (as the case may be) the third
30party appointed under section 84A below”.

18 In section 75 (compensation where reversionary estate in holding is
severed), in subsection (2)—

(a) after “arbitrator” (in the first place where it occurs) insert “or (as the
case may be) the third party”;

(b) 35after “awarded” insert “or determined by third party
determination”;

(c) after “award” insert “or determination”;

(d) after “arbitrator” (in the second place where it occurs) insert “or third
party”.

19 40In section 80 (power of Tribunal to direct holding to be treated as market
garden), after subsection (7) insert—

(7A) Notwithstanding the provision made by subsection (7) above for
rents to be settled by arbitration, the landlord and tenant may instead
refer those rents to be settled by third party determination under this
45Act.

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20 (1) Section 83 (settlement of claims on termination of tenancy) is amended as
follows.

(2) After subsection (1) (determination by arbitration of claims arising under the
Act etc on or out of the termination of the tenancy) insert—

(1A) 5Notwithstanding subsection (1) above, but subject to the provisions
of subsections (2) and (3) below, the tenant and landlord may instead
refer for third party determination under this Act any such claim as
is mentioned in subsection (1).

(3) For subsections (4) and (5) (8 month period from the termination of the
10tenancy within which the landlord and tenant may settle a claim by
agreement in writing before it is determined by arbitration) substitute—

(4) An arbitrator may not be appointed under section 84(2) below to
determine a claim which has become enforceable by virtue of the
service of a notice under subsection (2) above before the expiry of
15eight months from the termination of the tenancy.

21 After section 84 (arbitrations) insert—

84A Third party determinations

(1) Parties who wish to refer a matter for third party determination
under this Act must jointly appoint a third party to determine the
20matter.

(2) Parties may not under subsection (1) jointly appoint a third party to
determine a matter once an arbitrator has been appointed to
determine the matter under section 84(2).

(3) Any matter which by or by virtue of this Act or regulations made
25under this Act may be determined by third party determination
under this Act is to be treated as having been referred for third party
determination under this Act once an appointment has been made
under subsection (1).

(4) References to “third party determination under this Act” are to the
30determination of a matter by the third party appointed under
subsection (1) or a replacement third party jointly appointed by the
parties on a termination of the earlier appointment and references to
a “third party”, in the context of such a determination, are to the third
party so appointed.

(5) 35If a third party appointed under this section to determine a matter
dies, or is incapable of acting, the parties may (instead of appointing
a replacement) agree to proceed as if they had not referred the matter
for third party determination under this Act.

(6) A matter that has been referred for third party determination under
40this Act may not be determined by arbitration under this Act except
by virtue of subsection (5).

(7) Where by virtue of this Act compensation under an agreement is to
be substituted for compensation under this Act for improvements or
for any such matters as are specified in Part 2 of Schedule 8 to this
45Act, the third party must award compensation in accordance with
the agreement instead of in accordance with this Act.

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22 In section 85 (enforcement), in subsection (1) (recovery of unpaid amount by
county court proceedings), for “or awarded” substitute “, awarded or
determined by third party determination”.

23 (1) Section 86 (power of landlord to obtain charge on holding) is amended as
5follows.

(2) In subsection (2) (provision for landlord to request arbitrator to certify
amount of compensation and term for which charge may properly be made),
in the opening words—

(a) after “arbitration” insert “or third party determination”;

(b) 10after “arbitrator” insert “or (as the case may be) the third party”.

(3) In subsection (3) (landlord acting as trustee etc: ability to obtain order
charging the holding with repayment of sums to be paid by the landlord
under the Act)—

(a) for “or awarded” (in the first place where it occurs) substitute “,
15awarded or determined by third party determination”;

(b) after “awarded” (in the second place where it occurs) insert “or
determined by third party determination”.

24 In section 96 (interpretation), in subsection (1), at the relevant place insert—

25 (1) Schedule 2 (arbitration of rent: provisions supplementary to section 12) is
amended as follows.

(2) In paragraph 1(3) (amount of rent: arbitrator determining current level of
rents for comparable lettings)—

(a) 25after “arbitrator” insert “or (as the case may be) the third party”;

(b) after “arbitration” insert “or third party determination”.

(3) In paragraph 2(1) (amount of rent: duty of arbitrator to disregard increase in
rental value due to certain improvements), after “arbitrator” insert “or (as
the case may be) the third party”.

(4) 30In paragraph 3 (amount of rent: other duties of arbitrator)—

(a) in the opening words, after “arbitrator” insert “or (as the case may be)
the third party”;

(b) in paragraph (a), after “arbitration” insert “or third party
determination”.

(5) 35In paragraph 4 (frequency of arbitrations under section 12), in sub-
paragraph (1)(c), after “arbitrator” insert “or third party”.

(6) In the heading to the Schedule, after “ARBITRATION” insert “OR THIRD
PARTY DETERMINATION”.

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Section 16

SCHEDULE 5 Auditors ceasing to hold office

Part 1 Notification requirements

1 5Chapter 4 of Part 16 of the Companies Act 2006 (audit: removal, resignation,
etc of auditors) is amended in accordance with paragraphs 2 to 11.

2 Omit section 512 (notice to registrar of resolution removing auditor from
office).

3 In section 516 (resignation of auditor), in subsection (2), for “The” substitute
10“Where the company is a public interest company, the”.

4 Omit section 517 (notice to registrar of resignation of auditor).

5 (1) Section 518 (rights of resigning auditor) is amended as follows.

(2) In subsection (1), for the words from “auditor’s notice of resignation” to the
end of the subsection substitute “auditor’s (A’s) notice of resignation is
15accompanied by a statement under section 519 except where—

(a) the company is a non-public interest company, and

(b) the statement includes a statement to the effect that A
considers that none of the reasons for A’s ceasing to hold
office, and no matters (if any) connected with A’s ceasing to
20hold office, need to be brought to the attention of members or
creditors of the company (as required by section 519(3B)).

(3) In subsection (2), for “circumstances connected with” substitute “reasons for,
and matters connected with,”.

(4) In subsection (3), in the words after paragraph (b), for “circumstances
25connected with” substitute “reasons for, and matters connected with,”.

6 In section 519 (statement by auditor to be deposited with company), in
subsection (4), for “The statement required by this section” substitute “A
statement under this section”.

7 (1) Section 520 (company’s duties in relation to statement under section 519) is
30amended as follows.

(2) In subsection (1), for the words from “the statement” to the end of the
subsection substitute “a company receives from an auditor (“A”) who is
ceasing to hold office a statement under section 519 except where—

(a) the company is a non-public interest company, and

(b) 35the statement includes a statement to the effect that A
considers that none of the reasons for A’s ceasing to hold
office, and no matters (if any) connected with A’s ceasing to
hold office, need to be brought to the attention of members or
creditors of the company (as required by section 519(3B)).

(3) 40In subsection (2), for “The” substitute “Where this section applies, the”.

8 (1) Section 521 (copy of statement to be sent to registrar) is amended as follows.

Deregulation BillPage 79

(2) Before subsection (1) insert—

(A1) This section applies where an auditor (“A”) of a company sends a
statement to the company under section 519 except where—

(a) the company is a non-public interest company, and

(b) 5the statement includes a statement to the effect that A
considers that none of the reasons for A’s ceasing to hold
office, and no matters (if any) connected with A’s ceasing to
hold office, need to be brought to the attention of members or
creditors of the company (as required by section 519(3B)).

(3) 10In subsection (1), for “Unless” substitute “Where this section applies,
unless”.

9 (1) Section 522 (duty of auditor to notify appropriate audit authority) is
amended as follows.

(2) For subsections (1) to (4) substitute—

(1) 15Where an auditor of a company sends a statement under section 519,
the auditor must at the same time send a copy of the statement to the
appropriate audit authority.

(3) In the heading, for “notify” substitute “send statement to”.

10 (1) Section 524 (information to be given to accounting authorities) is amended
20as follows.

(2) For subsection (1) substitute—

(1) Where the appropriate audit authority receives a statement under
section 522 or 523, the authority may forward to the accounting
authorities—

(a) 25a copy of the statement or notice, and

(b) any other information the authority has received from the
auditor or the company concerned in connection with the
auditor’s ceasing to hold office.

(3) Omit subsection (3).

(4) 30In the heading, for “Information to be given” substitute “Provision of
information”.

11 (1) Section 525 (meaning of “appropriate audit authority” and “major audit”) is
amended as follows.

(2) In subsection (1)—

(a) 35in paragraph (a)—

(i) for the words before sub-paragraph (i) substitute “in relation
to an auditor of a public interest company (other than an
Auditor General)”;

(ii) in sub-paragraph (ii), after “receiving the” insert “statement
40or”;

(b) in paragraph (b), for the words from the beginning to “a major audit”
substitute “in relation to an auditor of a non-public interest company
(other than an Auditor General)”;

(c) in paragraph (c), for “in the case of an audit conducted by” substitute
45“in relation to”.

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