Eligibility
1. No person is eligible for appointment as auditor of an open-ended investment company unless he is eligible for appointment as a statutory auditor under Part 42 of the Companies Act 2006.
(1) A person is ineligible for appointment as auditor of an open-ended investment company if he is -
(a) an officer or employee of the company; or
(b) a partner or employee of such a person, or a partnership of which such a person is a partner.
(2) For the purposes of sub-paragraph (1), an auditor of a company is not to be regarded as an officer or employee of the company.
(3) A person is also ineligible for appointment if there exists between that person, or any associate of that person, and the company a connection of any such description as may be specified by regulations made by the Secretary of State under section 1214(4) of the Companies Act 2006.
(4) In sub-paragraph (3) "associate" has the same meaning as in Part 42 of that Act (see section 1260 of that Act).
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