(1) The Companies Act 2006 (Commencement No. 5, Transitional Provisions and Savings Order 2007 [S.I. 2007/3495 (C. 150).] is amended as follows.

(2) In paragraph 15 of Schedule 4, after subparagraph (2) add -

"(3) In section 518 (rights of resigning auditor) as it applies in relation to an auditor appointed before 6th April 2008, the reference to rights under section 502(2) shall be read as a reference to rights under section 390(1) of the 1985 Act or Article 398(1) of the 1986 Order.".