Textual Amendments
F1Sch. 14A inserted (with effect in accordance with reg. 1(5) of the amending S.I.) by The Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516), regs. 1(2), 11
F2Words in Sch. 14A heading substituted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 14(a); 2020 c. 1, Sch. 5 para. 1(1)
7.[F3(1)] In this Schedule— U.K.
[F4“audit committee” means a body which performs—
the functions referred to in—
rule 7.1.3 of the Disclosure Guidance and Transparency Rules sourcebook made by the Financial Conduct Authority under the Financial Services and Markets Act 2000 ; or
rule 2.4 of the Audit Committee Part of the Rulebook made by the Prudential Regulation Authority under that Act; or
equivalent functions;]
“Audit Regulation” means Regulation 537/2014 of the European Parliament and of the Council on specific requirements regarding statutory audit of public interest entities and repealing Commission Decision 2005/909/EEC;
“competent authority” means the Financial Reporting Council Limited.
[F5(2)For the purposes of the definition of “audit committee”, references to rules made by the Prudential Regulation Authority or the Financial Conduct Authority are to those rules as they have effect on IP completion day.]]
Textual Amendments
F3 Sch. 14A para. 7 renumbered as Sch. 14A para. 7(1) (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 14(c)(i); 2020 c. 1, Sch. 5 para. 1(1)
F4Words in Sch. 14A para. 7(1) substituted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 14(c)(ii); 2020 c. 1, Sch. 5 para. 1(1)
F5Sch. 14A para. 7(2) inserted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 14(c)(iii) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 1(a)); 2020 c. 1, Sch. 5 para. 1(1)