sec.276Compliance audits by regulated entities

sec.276 Compliance audits by regulated entities

A regulated entity must, if so required by the AER, carry out a compliance audit in connection with specified aspects of the activities of the entity in relation to the entity’s compliance with the requirements of this Law, the National Regulations and the Rules. Without limitation, a retailer must, if so required by the AER, carry out a compliance audit in respect of the compliance by the retailer and associates of the retailer with their obligations under the Rules relating to marketing. If the AER requires a regulated entity to carry out a compliance audit under this section, the entity may arrange for the audit to be carried out on its behalf by contractors or other persons, but the entity remains responsible for the audit. A regulated entity must, within a period specified by the AER, provide the AER with the results of a compliance audit carried out under this section. Subsections (1) , (2) and (4) are civil penalty provisions. (sec.276-ssec.1) A regulated entity must, if so required by the AER, carry out a compliance audit in connection with specified aspects of the activities of the entity in relation to the entity’s compliance with the requirements of this Law, the National Regulations and the Rules. (sec.276-ssec.2) Without limitation, a retailer must, if so required by the AER, carry out a compliance audit in respect of the compliance by the retailer and associates of the retailer with their obligations under the Rules relating to marketing. (sec.276-ssec.3) If the AER requires a regulated entity to carry out a compliance audit under this section, the entity may arrange for the audit to be carried out on its behalf by contractors or other persons, but the entity remains responsible for the audit. (sec.276-ssec.4) A regulated entity must, within a period specified by the AER, provide the AER with the results of a compliance audit carried out under this section.