sec.120AARegulator’s powers concerning audit of compliance with Act etc.

### sec.120AA Regulator’s powers concerning audit of compliance with Act etc. The regulator may, by written notice given to an electricity entity, retailer or special approval holder, require the entity, retailer or holder— to carry out an internal audit of all or any of the following— the entity, retailer or holder’s compliance with this Act, distribution network codes, and the authority issued or approval given to it under this Act; the reliability and quality of information given by the entity, retailer or holder to the regulator under this Act; or to appoint a person as an independent auditor to carry out an audit of all or any of the things mentioned in paragraph (a) . The notice may state terms of reference for carrying out the audit. The regulator may appoint a person as an independent auditor to carry out an audit of all or any of the things mentioned in subsection (1) (a) concerning the entity, retailer or holder if— the regulator reasonably considers that the person appointed under subsection (1) does not have appropriate qualifications or experience for carrying out the audit; or the entity, retailer or holder does not comply with a notice given to it under the subsection. A person may be appointed as an independent auditor under subsection (1) (b) or (3) only if the appointer reasonably considers the person has the appropriate qualifications or experience for carrying out the audit. s 120AA ins 2004 No. 51 s 20 amd 2006 No. 60 s 28 ; 2014 No. 48 ss 55 , 183 sch 1 (sec.120AA-ssec.1) The regulator may, by written notice given to an electricity entity, retailer or special approval holder, require the entity, retailer or holder— to carry out an internal audit of all or any of the following— the entity, retailer or holder’s compliance with this Act, distribution network codes, and the authority issued or approval given to it under this Act; the reliability and quality of information given by the entity, retailer or holder to the regulator under this Act; or to appoint a person as an independent auditor to carry out an audit of all or any of the things mentioned in paragraph (a) . (sec.120AA-ssec.2) The notice may state terms of reference for carrying out the audit. (sec.120AA-ssec.3) The regulator may appoint a person as an independent auditor to carry out an audit of all or any of the things mentioned in subsection (1) (a) concerning the entity, retailer or holder if— the regulator reasonably considers that the person appointed under subsection (1) does not have appropriate qualifications or experience for carrying out the audit; or the entity, retailer or holder does not comply with a notice given to it under the subsection. (sec.120AA-ssec.4) A person may be appointed as an independent auditor under subsection (1) (b) or (3) only if the appointer reasonably considers the person has the appropriate qualifications or experience for carrying out the audit. - (a) to carry out an internal audit of all or any of the following— (i) the entity, retailer or holder’s compliance with this Act, distribution network codes, and the authority issued or approval given to it under this Act; (ii) the reliability and quality of information given by the entity, retailer or holder to the regulator under this Act; or - (i) the entity, retailer or holder’s compliance with this Act, distribution network codes, and the authority issued or approval given to it under this Act; - (ii) the reliability and quality of information given by the entity, retailer or holder to the regulator under this Act; or - (b) to appoint a person as an independent auditor to carry out an audit of all or any of the things mentioned in paragraph (a) . - (i) the entity, retailer or holder’s compliance with this Act, distribution network codes, and the authority issued or approval given to it under this Act; - (ii) the reliability and quality of information given by the entity, retailer or holder to the regulator under this Act; or - (a) the regulator reasonably considers that the person appointed under subsection (1) does not have appropriate qualifications or experience for carrying out the audit; or - (b) the entity, retailer or holder does not comply with a notice given to it under the subsection.