(1) Section 1221 of the Companies Act 2006 (approval of overseas qualifications) is amended as follows.

(2) In subsections (1), (5) and (6) and the section heading, for "overseas" substitute "third country".

(3) In subsections (1)(a) and (b), (3)(a), (4) and (7)(a), for "foreign country" substitute "third country".

(4) After subsection (1) insert -

"(1A) A declaration under subsection (1)(a) or (b) must be expressed to be subject to the requirement that any person to whom the declaration relates must pass an aptitude test in accordance with subsection (7A), unless an aptitude test is not required (see subsection (7B)).".

(5) After subsection (7) insert -

"(7A) An aptitude test required for the purposes of subsection (1A) -

(a) must test the person's knowledge of subjects -