106Audits of scheme participants

106 Audits of scheme participants

106 Audits of scheme participants

(1) The Scheme Regulator may, at any time—

(a) audit a scheme participant’s compliance with the peak demand reduction scheme, or

(b) require a scheme participant to have an approved auditor audit the participant’s compliance with the peak demand reduction scheme.

(2) An audit may be conducted to—

(a) substantiate information provided to the Scheme Regulator, or

(b) determine whether the scheme participant has complied with the Act, the regulations and the scheme rules.

(3) An audit must be conducted in accordance with the directions of the Scheme Regulator.

(4) A scheme participant must, if requested to do so by the Scheme Regulator, give the Scheme Regulator the report of an audit conducted by an approved auditor when the participant gives the Scheme Regulator notice of the participant’s individual liable demand for the previous compliance period in accordance with the Act, Schedule 4A, clause 89(4).

(5) A person who is not an approved auditor must not—

(a) make a representation, or cause or allow a representation to be made, that the person is an approved auditor, or

(b) undertake the functions of an approved auditor.

Maximum penalty—

(a) for a corporation—500 penalty units, or

(b) otherwise—100 penalty units.

(6) In this section—

approved auditor means a person—

(a) nominated by the Scheme Regulator, or

(b) chosen by the scheme participant from a panel of persons nominated by the Scheme Regulator, or

(c) nominated by the scheme participant and approved by the Scheme Regulator.