Section 2 of the Principal Act is amended, in subsection (1) -
(a) by the deletion of the definition of "2016 Audits Regulations",
(b) by the substitution of the following definition for the definition of "statutory auditor":
"'statutory auditor' means an individual or a firm (within the meaning of Part 27) that stands approved as a statutory auditor or statutory audit firm, as the case may be, under Part 27, and includes a firm registered in accordance with section 1465;",
and
(c) by the insertion of the following definitions:
"'public-interest entity' has the meaning given to it by Part 27;
'Regulation (EU) 2016/679' means Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 [OJ No. L 119, 4.5.2016, p.1] on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and repealing Directive 95/46/EC (General Data Protection Regulation);".