Sch 18 para 10
(1) Section 249 (disqualification of auditor for breach of trust scheme rules) is amended as follows. (2) In subsection (1) for the words from “it may” to the end substitute it may do one or more of the following— (a) disqualify the auditor from being the auditor of any authorised unit trust scheme or authorised open-ended investment company; (b) publish a statement to the effect that it appears to the FCA that the auditor has failed to comply with the duty; (c) impose on the auditor a penalty, payable to the FCA, of such amount as the FCA considers appropriate. (3) For subsection (2) substitute— (2) Sections 345B to 345E have effect in relation to the taking of action under subsection (1) as they have effect in relation to the taking of action under section 345(2). (4) For the heading substitute “ Disciplinary measures ” .