In paragraph 20A (interpretation) [Paragraph 20A was inserted by paragraph 71 of Schedule 3 to S.I. 2016/649.] -

(a) at the beginning, insert "(1)";

(b) after "In this Part of this Schedule -" insert -

""the Audit Directive" means Directive 2006/43/EC of the European Parliament and of the Council on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC;";

(c) after the definition of "audit reporting requirements", insert -

""EEA auditor" means an individual or firm approved in accordance with the Audit Directive by an EEA competent authority to carry out audits of annual accounts or consolidated accounts required by European Union law;

"EEA competent authority" means a competent authority within the meaning of Article 2(10) of the Audit Directive of an EEA State;";

(d) in the definition of "public interest entity" -

(i) in paragraph (a), for "regulated market" substitute "UK regulated market";

(ii) in paragraph (b), for "other than one listed in Article 2 of Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and investment firms" substitute "which is a CRR firm within the meaning of Article 4(1)(2A) of that Regulation";