(1) The designated body is designated for the purpose of enabling it to exercise functions of the Secretary of State under Part 42 of the Act (statutory auditors).

(2) The functions of the Secretary of State under -

(a) section 1210(1)(h) of the Act (meaning of "statutory auditor" etc),

(b) section 1214(4) of the Act (power to specify connection between persons for purposes of independence requirement),

(c) section 1231(2)(a) (receipt of report by independent supervisor of auditors general),

(d) section 1231(3) of the Act (laying report by independent supervisor of auditors general before each House of Parliament),

(e) section 1237(3) of the Act (provision for pending proceedings in order revoking appointment of independent supervisor),

(f) section 1239(1)(b) of the Act (making regulations for register of third country auditors),