116Auditor's certificate

116 Auditor's certificate

S. 116(1) amended by Nos 9699 s. 23, 10191 s. 269(11), 50/1994 s. 121, 44/2001 s. 3(Sch. item 129).

(1) Within 14 days after the completion of the audit of an insurer's accounts for each financial year, the insurer shall send to the Authority a statement by a registered company auditor within the meaning of the Corporations Act certifying that—

S. 116(1)(a) amended by Nos 10191 s. 269(11), 50/1994 s. 121.

(a) he has examined the accounting records kept by the insurer in relation to the collection from holders of policies of accident insurance or indemnity of contributions under this Part and the payment of those contributions to the Authority and the insurer's entitlement to recover from the fund; and

(b) in his opinion—

S. 116(1)(b)(i) amended by Nos 10191 s. 269(11), 50/1994 s. 121.

(i) the accounts accurately record the amounts actually collected by the insurer by way of contributions under this Part and actually paid to the Authority;

(ii) the insurer has performed his obligations under sections 106 and 107 in respect of the collection and payment of contributions;

(iii) the accounting records accurately represent any entitlement of the insurer to be recompensed from the fund; and

(iv) any claims made by the insurer to be recompensed from the Fund are based on the insurer's entitlement as shown in the accounting records.

(2) A statement under subsection (1)—

(a) shall be in writing;

(b) shall be in or to the effect of the prescribed form;

(c) shall be signed by the auditor; and

(d) shall relate to the period of 12 months ended on the preceding 30 June.

S. 117 inserted by No. 9297 s. 10(1).