1639. (1) Without prejudice to Chapter 4 of Part 27, a recognised accountancy body shall, subject to subsection (2), withdraw an approval of a person to carry out the assurance of sustainability reporting under this Part if, but only if, the person –

(a) no longer stands approved under Part 27 as a statutory auditor or statutory audit firm, or

(b) no longer complies with paragraph (a), (b) or (c) of section 1627.

(2) For the purposes of subsection (1), sections 1479(3) to (16), 1480(3) to (16), 1481, 1482 and 1483 shall apply to the withdrawal of approval under this Part in the same manner as they apply to the withdrawal of approval under Part 27 subject to the following modifications:

(a) a reference (howsoever expressed) to the approval under Part 27 of the person as a statutory auditor or statutory audit firm shall be construed as a reference to the approval under this Part of a person to carry out the assurance of sustainability reporting;

(b) a reference in sections 1479 and 1480 to subsection (2)(a), (b) or (c) shall be construed as reference to subsection (1)(a) or (b) of this section;

(c) any other necessary modifications.]