Clause 41

The Minister shall nominate in each year the Auditor-General or a company auditor (hereinafter in this Act referred to 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 deems necessary.

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