11(1)Section 525 (meaning of “appropriate audit authority” and “major audit”) is amended as follows.
(2)In subsection (1)—
(a)in paragraph (a)—
(i)for the words before sub-paragraph (i) substitute “in relation to an auditor of a public interest company (other than an Auditor General)”;
(ii)in sub-paragraph (ii), after “receiving the” insert “statement or”;
(b)in paragraph (b), for the words from the beginning to “a major audit” substitute “in relation to an auditor of a non-public interest company (other than an Auditor General)”;
(c)in paragraph (c), for “in the case of an audit conducted by” substitute “in relation to”.
(3)Omit subsections (2) and (3).
(4)In the heading, omit “and “major audit””.