Governing norms of self regulatory organisations set member eligibility, discipline, reporting obligations and Board oversight. Governing norms permit a Self Regulatory Organization, with prior Board approval, to adopt internal rules consistent with the Act and regulations-covering member eligibility and removal, information obligations, arbitration for disputes, disciplinary procedures including suspension and expulsion, internal control standards (inspection, auditing, monitoring, surveillance), code of conduct, election and meeting procedures, accounts and reporting formats. The norms must include monthly reporting to the Board on policy initiatives, certification progress, admissions and disciplinary action, and contraventions expose members to non-monetary penalties; the Board may direct or itself make, amend or revoke norms if the SRO does not comply.