Source: http://www.legislation.gov.uk/ukpga/2000/8/section/343
Timestamp: 2019-08-19 00:59:54
Document Index: 293951686

Matched Legal Cases: ['art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3', 'art. 3']

Changes and effects yet to be applied to Section 343:
s. 343 applied (with modifications) by S.I. 2017/699 reg. 34
s. 343 applied (with modifications) by S.I. 2018/135 reg. 20
s. 343 applied (with modifications) by S.I. 2019/926 reg. 20 23
s. 343(9) omitted by S.I. 2019/632 reg. 68(a)
s. 343(10) words substituted by S.I. 2019/632 reg. 68(b)
343 Information given by auditor or actuary to [F1a regulator]: persons with close links.U.K.
(a)is, or has been, an auditor of an authorised person [F2or recognised investment exchange,] appointed under or as a result of a statutory provision; and
(b)is, or has been, an auditor of a person (“CL”) who has close links with the authorised person [F3or recognised investment exchange].
(3)An auditor or actuary does not contravene any duty to which he is subject merely because he gives to [F4a regulator]—
(a)information on a matter concerning the authorised person [F5or recognised investment exchange] of which he has, or had, become aware in his capacity as auditor of, or actuary acting for, CL, or
if he is acting in good faith and he reasonably believes that the information or opinion is relevant to any functions of [F6that regulator].
(4)Subsection (3) applies whether or not the auditor or actuary is responding to a request from the [F7regulator].
(5)The Treasury may make regulations prescribing circumstances in which an auditor or actuary must communicate matters to [F8a regulator] as mentioned in subsection (3).
(6)It is the duty of an auditor or actuary to whom any such regulations apply to communicate a matter to [F8a regulator] in the circumstances prescribed by the regulations.
[F9(6A)If the authorised person concerned is a credit institution or an investment firm, and an auditor or actuary communicates a matter to a regulator in accordance with the regulations, the matter must be disclosed simultaneously to the management body of the authorised person, unless there are compelling reasons not to do so.]
(7)The matters to be communicated to [F8a regulator] in accordance with the regulations may include matters relating to persons other than the authorised person [F10or recognised investment exchange] concerned.
(8)CL has close links with the authorised person [F11or recognised investment exchange] concerned (“A”) if CL is—
[F12(10)In subsection (6A) “credit institution” and “investment firm” have the same meaning as in Article 4(1) of the capital requirements regulation.]
F1Words in s. 343 heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(7) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F2Words in s. 343(1)(a) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(2)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F3Words in s. 343(1)(b) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(2)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4Words in s. 343(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(3)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5Words in s. 343(3) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(3)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F6Words in s. 343(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(3)(c) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F7Word in s. 343(4) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F8Words in s. 343 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(7) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F9S. 343(6A) inserted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 21(2)
F10Words in s. 343(7) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(5) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F11Words in s. 343(8) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 13 para. 5(6) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F12S. 343(10) inserted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 21(3)