Regulation 15

regularly assess; and

if the Registrar requires, demonstrate to the Registrar,the effectiveness of X’s internal policies, procedures and controls mentioned in regulation 14.

X’s means of access to the electronic transaction system has been used to carry out any ACRA transaction with the ACRA Registrar —

which does not relate to a customer of X, or which is not authorised by that customer;

for any purpose prohibited by the ACRA Registrar; or

for any illegal purpose;

X’s means of access to the electronic transaction system has been used by any person other than a registered qualified individual (excluding a deemed registered qualified individual) employed, engaged or appointed by X, or an authorised employee of X under X’s supervision (if X is also a registered qualified individual) or under the supervision of a registered qualified individual (excluding a deemed registered qualified individual) employed, engaged or appointed by X;

any registered qualified individual (excluding a deemed registered qualified individual) employed, engaged or appointed by X has failed to carry out the duties and responsibilities set out in regulations 43 to 48 in respect of any ACRA transaction with the ACRA Registrar using the electronic transaction system; or

any authorised employee of X who carries out any ACRA transaction with the ACRA Registrar using the electronic transaction system under X’s supervision (if X is also a registered qualified individual) or under the supervision of a registered qualified individual (excluding a deemed registered qualified individual) employed, engaged or appointed by X, has failed to comply with —

the Registrar’s directions;

X’s internal policies, procedures and controls; and

the instructions of X or the registered qualified individual employed, engaged or appointed by X, or both,regarding access to, and use of, the electronic transaction system,X must, within 2 business days after becoming aware of the occurrence of any circumstance described in sub‑paragraph (a), (b), (c) or (d) or having reasonable grounds to believe that any such circumstance has occurred, report that circumstance to the Registrar.