Schedule 11: Recognised Professional Qualifications Part 2: Requirements for recognition of a professional qualification Chapter 3: Auditors General Section 1238: Grants to the Independent Supervisor
1579.This section amends section 16(2) of the C(AICE) Act 2004. The effect of the amendment is that the body that carries out the functions of the Independent Supervisor is eligible for grants from the Secretary of State under section 16 of that Act to meet the expenditure of the body and any subsidiary. It also means that the body may be exempt from liability in damages under section 18 of the Act.