6. Amendment of section 31a

Section 31a of the principal Act is amended—

(a)

by substituting for the definition of “auditor” the following definition:

‘ “auditor” means an individual auditor or audit firm registered or recognised under section 31o as a registered auditor or a recognised auditor of a public interest entity;’;

(b)

by inserting after the definition of “public interest entity”

the following definitions:

‘ “recognised auditor” means a foreign individual auditor or foreign audit firm recognised under section 31o as an auditor of a public interest entity;

“registered auditor” means an individual auditor or audit firm registered under section 31o as an auditor of a public interest entity;’;

Securities Commission (Amendment)

(c)

in the definition of “relevant authorities”, by substituting for the full stop at the end of the paragraph a semicolon;

and

(d)

by inserting after the definition of “relevant authorities”

the following definition:

‘ “relevant foreign authority” means a foreign authority which exercises the functions corresponding to the

Audit Oversight Board as specified in section 31b.’.

Report

Read on from s 7