11C. Requirement for approved person to appoint auditor

The Director may, by written notice to an approved person in respect of any approved institution, require the approved person to appoint an auditor to conduct an audit of the approved person’s compliance with the Act, these Regulations or any terms and conditions of appointment or approval applicable to that person. (2) The written notice under paragraph (1) may provide for —

the requirements for the audit (including any documents and information to be made available for the audit);

the time by which the audit must be completed; and

the requirement for the findings of the audit to be provided to the Director by a time specified in that notice.

The Director may, by written notice to an approved person in respect of any approved institution, require the approved person to appoint an auditor to conduct an audit of the approved person’s compliance with the Act, these Regulations or any terms and conditions of appointment or approval applicable to that person.

The written notice under paragraph (1) may provide for —

the requirements for the audit (including any documents and information to be made available for the audit);

the time by which the audit must be completed; and

the requirement for the findings of the audit to be provided to the Director by a time specified in that notice.