Appointment of auditor enables regulatory investigation with inspection powers and binding compliance obligations on underwriters and employees. Regulation 24 authorises the Board to appoint a qualified auditor to investigate an underwriter's books of account and affairs; the auditor carries the same inspection powers as the inspecting authority under regulation 19, and the underwriter and its employees remain subject to the cooperation and disclosure obligations set out in regulation 21. 'Qualified auditor' is defined by reference to section 226 of the Companies Act, 1956.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Appointment of auditor enables regulatory investigation with inspection powers and binding compliance obligations on underwriters and employees.
Regulation 24 authorises the Board to appoint a qualified auditor to investigate an underwriter's books of account and affairs; the auditor carries the same inspection powers as the inspecting authority under regulation 19, and the underwriter and its employees remain subject to the cooperation and disclosure obligations set out in regulation 21. "Qualified auditor" is defined by reference to section 226 of the Companies Act, 1956.
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