55Revocation of approval of appointment

55 Revocation of approval of appointment (1) The Minister may, by written notice, revoke the approval of a person's appointment as the auditor or actuary for an approved scheme if satisfied the person: (a) has failed to exercise adequately and properly the functions of the role; or (b) no longer meets one or more of the eligibility criteria.

Chapter 3 Fidelity fund schemes and approved schemes Part 3.3 Approved schemes – general matters Division 2 Special actuaries Building (RBI and Fidelity Fund Schemes) Regulations 2012 31 (2) The revocation takes effect immediately. (3) The Minister must give the notice of revocation to the person whose approval is revoked and a copy of the notice to the trustees of the scheme.