Sch 3 para 12
After section 494 (disclosure of services provided by auditor or associates and related remuneration) insert— Interpretation (494A) In this Chapter— “ audit committee ” means a body which performs the functions referred to in Article 39(6) of the Audit Directive or equivalent functions; “ Audit Directive ” means Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC ; “ Auditor General ” means— the Comptroller and Auditor General, the Auditor General for Scotland, the Auditor General for Wales, or the Comptroller and Auditor General for Northern Ireland; “ issuer ” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 102A(6) ); “ network ” means an association of persons other than a firm co-operating in audit work by way of— profit-sharing; cost sharing; common ownership, control or management; common quality control policies and procedures; common business strategy; or use of a common name; “ public interest company ” means— an issuer whose transferable securities are admitted to trading on a regulated market; a credit institution within the meaning given by Article 4(1)(1) of Regulation (EU) No. 575/2013 of the European Parliament and of the Council , other than one listed in Article 2 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and investment firms ; an insurance undertaking within the meaning given by Article 2(1) of Council Directive 1991/674/EEC of the European Parliament and of the Council on the annual accounts and consolidated accounts of insurance undertakings ; “ regulated market ” has the same meaning as in Part 6 of the Financial Services and Markets Act 2000 (see section 103(1) ); “ transferable securities ” means anything which is a transferable security for the purposes of Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments .