Section 34(a) implements some of the provisions of the 1992 Regulations. Paragraph (b) of this section adds to the provisions of section 187 that specify circumstances where a person is not qualified to act as auditor of a company. Paragraph (c) is in the nature of a transitional provision. Under that subsection persons who hold individual authorisations will have a three year period during which they have to become a member of, or become subject to, the regulation of a recognised body of accountants or cease to be qualified for appointment to act as an auditor under the Companies Acts.