Companies Act 2006

[F1Cooperation with foreign competent authoritiesU.K.

1253ARequests to foreign competent authoritiesU.K.

The Secretary of State may request from F2... a third country competent authority such assistance, information or investigation as he may reasonably require in connection with the exercise of his functions under this Part.

1253B Requests from [F3approved third country competent authorities] U.K.

[F4(1)The Secretary of State must take all necessary steps to—

(a)ensure that an investigation is carried out, or

(b)provide any other assistance or information,

if requested to do so by an [F5approved third country competent authority] F6....]

[F7(1A)Where the request includes a request for the transfer of audit working papers and investigation reports, the Secretary of State must act in accordance with section 1253D.]

(2)Within 28 days following the date on which he receives the request, the Secretary of State must—

(a) provide the assistance or information required by [F8the requesting authority] under subsection (1)(b), or

(b) notify [F9the requesting authority] of the reasons why he has not done so.

(3)But the Secretary of State need not take steps to comply with a request under subsection (1) if—

(a)he considers that complying with the request may prejudice the sovereignty, security or public order of the United Kingdom;

(b)legal proceedings have been brought in the United Kingdom (whether continuing or not) in relation to the persons and matters to which the request relates; or

(c)disciplinary action has been taken by a recognised supervisory body in relation to the persons and matters to which the request relates.

F10(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1253C Notification to [F11approved third country] competent authoritiesF12...U.K.

[F13(1)If the Secretary of State receives notice from a recognised supervisory body under section 1223A(1) (notification of matters relevant to [F14approved third country competent authorities]) that—

(a)a person has become eligible for appointment as a statutory auditor, or

(b)a person’s eligibility for appointment as a statutory auditor has been withdrawn,

the Secretary of State must notify the relevant [F15approved third country competent authority].]

(2) In subsection (1) “[F16approved third country competent authority]” means the [F16approved third country competent authority] which has approved the person concerned F17... to carry out audits of annual accounts or consolidated accounts F18....

(3)The notification under subsection (1) must include the name of the person concerned and [F19, in a case where a person’s eligibility for appointment as a statutory auditor has been withdrawn, the reasons for the withdrawal].

(4) The Secretary of State must notify the relevant [F20approved third country competent authority] if he has reasonable grounds for suspecting that—

(a) a person has contravened the law of the United Kingdom, or any [F21equivalent third country or transitional third country, relating to audit], and

(b) the act or omission constituting that contravention took place on the territory of [F22an equivalent third country or transitional third country].

(5) In subsection (4) “[F23approved third country competent authority]” means the [F23approved third country competent authority] for the [F24country or territory] in which the suspected contravention took place.

(6)The notification under subsection (4) must include the name of the person concerned and the grounds for the Secretary of State's suspicion.]