In Article 5 (prohibition of the provision of non-audit services) -

(a) in paragraph 1, in the first subparagraph -

(i) omit "or an audit firm";

(ii) omit "or the audit firm";

(iii) for "audited entity" substitute "audited person";

(iv) after "parent undertaking" insert "(incorporated or formed in any part of the United Kingdom)";

(v) for "controlled undertakings" substitute "subsidiary undertakings";

(vi) omit "within the Union";

(vii) in point (a), for "period audited" substitute "financial year of the accounts to be audited";

(viii) in point (b), for "the period referred to in point (a)" substitute "that period";

(b) in paragraph 1, in the second subparagraph -

(i) in point (a)(iv), omit "or the audit firm";

(ii) in point (a)(v), omit "or the audit firm";

(iii) in point (b), for "audited entity" substitute "audited person";

(iv) in point (c), for "financial statements" substitute "accounts";