43ACompliance audits

#### 43A Compliance audits (1) This section applies if the Regulator: (a) suspects, on reasonable grounds, that a person has engaged, is engaging or is proposing to engage in conduct that constituted, constitutes or would constitute: (i) an offence against this Act; or (ii) a contravention of a civil penalty provision; and (b) is satisfied that it would be in the public interest to give the person a notice under this section. (2) The Regulator may, by written notice given to the person, require the person: (a) to undertake, or arrange for another person to undertake, an audit of whichever of the following is specified in the notice: (i) the person’s compliance with this Act; (ii) one or more specified aspects of the person’s compliance with this Act; and (b) to give the Regulator a written report setting out the results of the audit. (3) The notice must specify: (a) if the notice requires the person to arrange another person to undertake the audit—requirements relating to the qualifications and independence of the other person; and (b) the matters to be covered by the audit; and (c) the period within which the audit must be undertaken; and (d) the form and content of the report; and (e) the period within which the report must be given to the Regulator. (4) A person contravenes this subsection if the person is subject to a requirement under subsection (2) and the person fails to comply with the requirement. (5) A person commits an offence of strict liability if the person contravenes subsection (4). Penalty: 30 penalty units. > Note: For strict liability, see section 6.1 of the Criminal Code. (6) A person is liable to a civil penalty if the person contravenes subsection (4). Civil penalty: 30 penalty units. (7) A notice under subsection (2) is not a legislative instrument.