Section 42

The Minister shall nominate in each year the Auditor-General or a company auditor (referred to in this Act as the Auditor) to audit the accounts of the Bank.

The Auditor shall be paid out of the revenue of the Bank such remuneration, expenses or fees as the Minister, after consultation with the Bank, shall direct.

For the purpose of any audit of accounts under this Act, the Auditor may by notice in writing require the production before him of any book, deed, contract, account, voucher or other document which he may deem necessary, and may require any person holding or accountable for any such document to appear before him and make and sign a declaration with respect thereto and may require from any person such information or explanation as he considers necessary.

Any person who, being required by the Auditor under subsection (3) to produce any document or to appear before him and make and sign a declaration or to furnish information or an explanation, fails without reasonable excuse to comply with the requisition, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200, and in the case of a continuing failure to a fine not exceeding $100 for every day after the first day during which the failure continues. [41