Legislation – Deregulation Act 2015
Changes to legislation:
Deregulation Act 2015, Paragraph 15 is up to date with all changes known to be in force on or before 05 April 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 5 Paragraph 15:
- s. 110A inserted by 2016 c. 12 s. 16(1)
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 110A inserted by 2016 c. 12 s. 16(1)
SCHEDULE 5Auditors ceasing to hold office
PART 2Miscellaneous
Failure to re-appoint auditor: special procedure requirements
15
(1)
Section 515 (failure to re-appoint auditor: special notice required for resolution at general meeting) is amended as follows.
(2)
“(1)
Special notice is required for a resolution at a general meeting of a private company whose effect would be to appoint a person as auditor in place of a person (the “outgoing auditor”) who, at the time the notice is given, is an auditor of the company and who is to cease to hold office at the end of a period for appointing auditors.
But special notice is not required under this subsection if the auditor is to cease to hold office by virtue of section 510 or 516.
(1A)
Special notice is required for a resolution at a general meeting of a public company whose effect would be to appoint a person as auditor in place of a person (the “outgoing auditor”) who, at the time the notice is given, is an auditor of the company and who is to cease to hold office at the end of an accounts meeting.
But special notice is not required under this subsection if the auditor is to cease to hold office by virtue of section 510 or 516.
(2)
Special notice is required for a resolution at a general meeting of a company whose effect would be to appoint a person as auditor where, at the time the notice is given, the company does not have an auditor and the person proposed to be appointed is not a person (the “outgoing auditor”) who was an auditor of the company when the company last had an auditor.
But this is subject to subsection (2A).
(2A)
Special notice is not required under subsection (2) if—
(a)
a period for appointing auditors has ended or (as the case may be) an accounts meeting of the company has been held since the outgoing auditor ceased to hold office,
(b)
the outgoing auditor ceased to hold office by virtue of section 510 or 516, or
(c)
the outgoing auditor has previously had the opportunity to make representations with respect to an intended resolution under subsection (4) of this section or a proposed resolution under section 514(4).”
(3)
In subsection (3)—
(a)
omit “such”;
(b)
after “resolution” insert “
.
mentioned in subsection (1), (1A) or (2)
”