Schedule 12, paragraph 2(1)

The arrangements referred to in section 1242(1)(b) are appropriate arrangements— for the carrying out of investigations into matters arising in connection with the performance of functions related to the audit of UK-traded third country companies by the registered third country auditor, where it appears to be desirable following the conclusion of such investigations— for the holding, subject to sub-paragraph (1A), of disciplinary hearings relating to the registered third country auditor, unless the interests of justice otherwise require, for any such hearings to be held in public, and for decisions to be made as to whether (and, if so, what) disciplinary action should be taken against the registered third country auditor, and for ensuring that the carrying out of those investigations, the holding of those hearings and the making of those decisions are done independently of the registered third country auditor.

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Source: legislation.gov.uk · retrieved 2026-09-04