Chapter 4 of Part 16 of the Companies Act 2006 (audit: removal, resignation, etc of auditors) is amended as follows.
In section 519 (statement by auditor to be deposited with company on ceasing to hold office), for subsections (1) to (3) substitute—
After section 519 insert—
In section 523 (duty of company to notify appropriate audit authority), for subsections (1) to (3) substitute—
Schedule 5 (auditors ceasing to hold office) makes provision about the following matters—
the notification requirements that apply on an auditor ceasing to hold office;
the requirements that apply if there is a failure to re-appoint an auditor;
the replacement of references to documents being deposited at a company's registered office.