71Auditing

71 Auditing

(1)  [Section 71 Subsection (1) amended by No. 59 of 2009, s. 184, Applied:01 Jun 2010] The Regulator may carry out such audits in relation to the regulated activities of a regulated entity as the Regulator reasonably requires to enable the Regulator to perform functions or exercise powers under this Act.

(2)  In any audit that is conducted under subsection (1) , the Regulator may, subject to subsection (3) , decide the scope and frequency of such audits.

(3)  An audit conducted under subsection (1) is not to be conducted more frequently than once in any financial year.