The Central Bank Act 1997 is amended by substituting the following Part for Part IV:

"Part IV Functions of Bank with Respect to Regulated Financial Service Providers

Chapter 1 Introductory

24. Interpretation (Part IV).

(1) In this Part -

'affiliate', in relation to an auditor, means a firm or body corporate specified by subsection (2) as being an affiliate of the auditor;

'company' has the same meaning as in section 2 (1) of the Companies Act 1963;

'firm' has the same meaning as in section 4 of the Partnership Act 1890;

'guideline' means a guideline issued under section 27A or, if such a guideline is amended, means the guideline as amended;

'public authority' means a body (whether corporate or incorporate) established or constituted by or under an Act that performs one or more public functions;

'relevant obligations', in relation to a regulated financial service provider, means the service provider's obligations under -

(a) all designated enactments and all designated statutory instruments that apply to it, and

(b) all codes, guidelines and notices issued by the Bank that apply to it, and

(c) all other enactments and statutory instruments with which it must comply;

'work', in relation to an auditor, includes all work of an accounting, financial or advisory nature that an auditor does for a financial service provider as well as work involved in auditing the financial service provider's accounts.