265Notice to auditors concerning information and books

265  Notice to auditors concerning information and books  (1) Subject to subsection (2), ASIC may give an auditor who prepares an audit report required under the Commonwealth credit legislation a written notice requiring the auditor:  (a) to give specified information; or  (b) to produce specified books; to a specified ASIC member or ASIC staff member at a specified place and time.  (2) The power in subsection (1) may only be exercised:  (a) for the purposes of ascertaining compliance with audit requirements under the Commonwealth credit legislation; or  (b) in relation to an alleged or suspected contravention of audit requirements under the Commonwealth credit legislation; or  (c) in relation to an alleged or suspected contravention of a law of the Commonwealth, or of a law of a referring State or a Territory, being a contravention that:  (i) concerns the management, conduct or affairs of a licensee, credit representative or other person who engages, or has engaged, in a credit activity; or  (ii) involves fraud or dishonesty and relates to a credit activity engaged in by a person, or a credit contract, mortgage, guarantee or consumer lease; or  (iii) is of a provision of Part 3‑2CA (about mandatory comprehensive credit reporting); or  (d) for the purposes of an investigation under Part 6‑1 relating to a contravention referred to in paragraph (b) or (c).  (3) Without limiting subsection (1), a notice under that subsection may specify information or books that relate to any or all of the following:  (a) the policies relating to audit that the auditor has adopted or proposes to adopt, or the procedures relating to audit that the auditor has put in place or proposes to put in place;  (b) audits the auditor has conducted or proposes to conduct or in which the auditor has participated or proposes to participate;  (c) any other matter pertaining to audit that is prescribed by the regulations for the purposes of this paragraph.  (4) Without limiting subsection (1), a notice under that subsection may require the auditor to give information or produce books even if doing so would involve a breach of an obligation of confidentiality that the auditor owes an audited person.  (5) ASIC may, by written notice to an auditor who has received a notice under subsection (1), extend the period within which the auditor must give the information or produce the books to which the notice under that subsection relates.