The following is substituted for section 198 of the Act of 1990:
"198. Register of auditors.
(1) The registrar of companies shall maintain a register containing the names of persons or firms that have been notified to him as qualified for appointment as auditor of a company or as public auditor.
(2) A person shall not -
(a) act as an auditor of a company or as a public auditor,
(b) describe himself as an auditor of a company or as a public auditor, or
(c) so hold himself out as to indicate, or be reasonably understood to indicate, that he is, or is registered as, an auditor of a company or a public auditor,
unless -
(i) his name is entered, or is deemed under subsection (3) to be entered, in the register of auditors and he holds a valid practising certificate, or
(ii) he is a member of a firm that holds a valid practising certificate under section 187(1B) and he is deemed under that section to hold a practising certificate.
(3) In the following circumstances, the name of a person