(1) Section 1217 of the Companies Act 2006 (supervisory bodies) is amended as follows.

(2) In subsection (1) omit the word "either" and the words from "or because" to the end.

(3) After subsection (1) insert -

"(1A) The rules referred to in paragraphs 9(3)(b) (confidentiality of information) and 10C(3)(a) and (b) (bar on appointment as director or other officer) of Schedule 10 must also be binding on persons who -

(a) have sought appointment or acted as a statutory auditor, and

(b) have been members of the body at any time after the commencement of this Part.".