(2) In section 1253D( a )— 

(a) omit subsection (2)(k); 

(b) omit subsection (2)(o); 

(c) after subsection (2)(s) insert— 

“(t) the Ministry of Finance of the People’s Republic of China; 

(u) the Securities Regulatory Commission of the People’s Republic of China.”. 

(3) In paragraph 20A( b ) of Schedule 10, for the definition of “key audit partner” substitute— 

““key audit partner” means— 

(a) an individual who is eligible for appointment as a statutory auditor and who is designated by an audit firm for a particular audit engagement as being primarily responsible for carrying out the statutory audit on behalf of the audit firm; 

(b) in the case of a group audit, any of the following— 

(i) an individual who is eligible for appointment as a statutory auditor and who is designated by an audit firm as being primarily responsible for carrying out the statutory audit of the consolidated accounts of the group on behalf of the audit firm; 

(ii) an individual who is eligible to conduct the audit of the accounts of any material subsidiary undertaking and who is designated as being primarily responsible for that audit; or 

(c) an individual who is eligible for appointment as a statutory auditor and who signs the audit report.”. 

## Amendments to the Insurance Accounts Directive (Lloyd’s Syndicate and Aggregate Accounts) Regulations 2008 

16.  Schedule 2 to the Insurance Accounts Directive (Lloyd’s Syndicate and Aggregate Accounts) Regulations 2008( c ) is amended as follows— 

(a) in paragraph 2(6), for “paragraph 3(j)” substitute “paragraph 3(1)(h)”; 

(b) for paragraph 3(1) substitute— 

“(1) The types of service in respect of which disclosure is required are— 

(a) either— 

(i) the auditing of accounts of associates of the managing agent responsible for managing the syndicate, in the case of the syndicate’s annual accounts; or 

(ii) the auditing of accounts of associates of the Society of Lloyd’s, in the case of the aggregate accounts; 

(b) audit-related assurance services; 

(c) taxation compliance services; 

(d) all taxation advisory services not falling within paragraph (c); 

(e) internal audit services; 

(f) all assurance services not falling within paragraphs (a) to (e); 

(g) all services relating to corporate finance transactions entered into, or proposed to be entered into, by or on behalf of the managing agent or any of its associates, or 

