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The Statutory Auditors and Third Country Auditors Regulations 2007

Status:

This is the original version (as it was originally made).

Statutory Instruments

2007 No. 3494

companies

auditors

The Statutory Auditors and Third Country Auditors Regulations 2007

Made

17th December 2007

Laid before Parliament

17th December 2007

Coming into force in accordance with regulation 1(2) and (3)

The Secretary of State is a Minister designated(1) for the purposes of section 2(2) of the European Communities Act 1972(2) in relation to auditors and the audit of accounts.

These Regulations make provision for a purpose mentioned in section 2(2) of that Act and it appears to the Secretary of State that it is expedient for the reference to Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC(3), to be construed as a reference to that Directive as amended at any time before 1st January 2009.

In exercise of the powers conferred by section 2(2)(4) of, as read with paragraph 1A of Schedule 2 to, the European Communities Act 1972 and sections 1239, 1241(2)(c), 1246, 1292(1)(a) and (b) and (2) of, and paragraph 8(1)(a) of Schedule 11 to, the Companies Act 2006(5), the Secretary of State makes the following Regulations.

(3)

OJ L 157, 9.6.2006, p. 87. The Directive extends to the European Economic Area by virtue of Decision of the EEA Joint Committee No. 160/2006 of 8 December 2006 amending Annex XXII (Company law) to the EEA Agreement (OJ L 89, 29.3.2007, p. 38).

(4)

The enabling powers of section 2(2) were extended by virtue of the amendment of section 1(2) by section 1 of the European Economic Area Act 1993 (c.51). Paragraph 1(1)(d) of Schedule 2 to the European Communities Act 1972 provides that the powers conferred by section 2(2) shall not include power to create a new criminal offence punishable on summary conviction with imprisonment for more than three months. In its application to a summary conviction in Scotland paragraph 1(1)(d) of Schedule 2 is modified by section 45(4) of the Criminal Proceedings etc (Reform) (Scotland) Act 2007 (2007 asp 6), so that the reference to three months is read as a reference to twelve months.

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