Irish Collective Asset-Management Vehicles Act 2015

123.

Eligibility to be auditor

123. F21 [ (1) No person other than

(a) a statutory auditor or audit firm approved in accordance with Part 27 of the Companies Act 2014 , or

(b) an audit firm registered in accordance with section 1465 of the Companies Act 2014 ,

shall be eligible for appointment as an auditor of an ICAV. ]

(2) No person shall be eligible for appointment as auditor of an ICAV if—

(a) the person is an officer or employee of the ICAV concerned,

(b) the person is a partner or employee of such a person, or a partnership of which such a person is a partner, or

(c) there exists between the person and the ICAV a connection of any such description as specified in Part 7 of the Audi ts Regulations.

(3) For the purposes of subsection (2), an auditor of an ICAV shall not be regarded as an officer or employee of the ICAV.

(4) Where during a person’s term of office as an auditor of an ICAV the person becomes ineligible for appointment to the office, the person shall without delay vacate the office and give notice in writing to the ICAV of having vacated the office by reason of ineligibility.

Annotations

Amendments:

F21

Substituted (21.09.2018) by Companies (Statutory Audits) Act 2018 (22/2018), s. 74(b), S.I. No. 366 of 2018.

Editorial Notes:

E3

Previous affecting provision: subs. (1) substituted (17.06.2016) by European Union (Statutory Audits) (Directive 2006/43/EC, as amended by Directive 2014/56/EU, and Regulation (EU) No 537/2014) Regulations 2016 (S.I. No. 312 of 2016), reg. 144(3), in effect as per reg. 1(2); substituted as per F-note above.