Part XXII Auditors and Actuaries
Appointment
340 Appointment.
1
Rules may require an authorised person, or an authorised person falling within a specified class—
a
to appoint an auditor, or
b
to appoint an actuary,
if he is not already under an obligation to do so imposed by another enactment.
2
Rules may require an authorised person, or an authorised person falling within a specified class—
a
to produce periodic financial reports; and
b
to have them reported on by an auditor or an actuary.
3
Rules may impose such other duties on auditors of, or actuaries acting for, authorised persons as may be specified.
4
Rules under subsection (1) may make provision—
a
specifying the manner in which and time within which an auditor or actuary is to be appointed;
b
requiring the Authority to be notified of an appointment;
c
enabling the Authority to make an appointment if no appointment has been made or notified;
d
as to remuneration;
e
as to the term of office, removal and resignation of an auditor or actuary.
5
An auditor or actuary appointed as a result of rules under subsection (1), or on whom duties are imposed by rules under subsection (3)—
a
must act in accordance with such provision as may be made by rules; and
b
is to have such powers in connection with the discharge of his functions as may be provided by rules.
6
In subsections (1) to (3) “auditor” or “actuary” means an auditor, or actuary, who satisfies such requirements as to qualifications, experience and other matters (if any) as may be specified.
7
“Specified” means specified in rules.