18 Auditors ceasing to hold office
Deregulation Act 2015 (2015 c 20) | Legislation

18  Auditors ceasing to hold office

(1)     Chapter 4 of Part 16 of the Companies Act 2006 (audit: removal, resignation, etc of auditors) is amended as follows.

(2)     In section 519 (statement by auditor to be deposited with company on ceasing to hold office), for subsections (1) to (3) substitute—

“(1)     An auditor of a public interest company who is ceasing to hold office (at any time and for any reason) must send to the company a statement of the reasons for doing so.

(2)     An auditor (“A”) of a non-public interest company who is ceasing to hold office must send to the company a statement of the reasons for doing so unless A satisfies the first or second condition.

(2A)     The first condition is that A is ceasing to hold office—

(a)     in the case of a private company, at the end of a period for appointing auditors;

(b)     in the case of a public company, at the end of an accounts meeting.

(2B)     The second condition is that—

(a)     A's reasons for ceasing to hold office are all exempt reasons (as to which see section 519A(3)), and

(b)     there are no matters connected with A's ceasing to

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