(1) Sections 342 (information given by auditor or actuary to a regulator), 343 (information given by auditor or actuary to a regulator: persons with close links) and 344 (duty of auditor or actuary resigning etc to give notice) of the Act apply with respect to the auditor of a proxy advisor, and have effect for those purposes with the following modifications.

(2) A reference to an authorised person is a reference to a proxy advisor.

(3) A reference to a regulator or to the appropriate regulator is a reference to the FCA.

(4) Ignore references to an actuary.

(5) Section 342 is to be read as if -

(a) subsection (2) were omitted; and

(b) after subsection (3) there were inserted -

"(3A) Subsection (3B) applies in the case of an auditor ("A") to whom this section applies by virtue of regulation 23(1) of the Proxy Advisors (Shareholders' Rights) Regulations 2019 ("the 2019 Regulations").