54Application for approval of appointment

54 Application for approval of appointment (1) An application under section 54E(2) of the Act for approval of the appointment of a person as the auditor or actuary of an approved scheme must include: (a) information to satisfy the Minister that the person meets the eligibility criteria; and (b) the terms of appointment. (2) If, under section 54E(3)(b) of the Act, the Minister gives the trustees of the scheme a notice refusing to approve the appointment, the notice must specify the way in which the person fails to meet the eligibility criteria.