s 73B Power of Authority to appoint auditor to examine and audit books of approved clearing house
73B.—(1) Where —(a) an approved clearing house is required under section 62 to submit to the Authority an auditor’s report but fails to do so; or (b) the Authority receives a report under section 73A(1), the Authority may, without affecting its powers under section 73, if it is satisfied that it is in the interests of the approved clearing house, the participants of the approved clearing house or the general public to do so, appoint in writing an auditor to examine and audit (either generally or in relation to any particular matter) the books of the approved clearing house. (2) Where the Authority is of the opinion that the whole or any part of the costs and expenses of an auditor appointed by the Authority under subsection (1) should be borne by the approved clearing house, the Authority may, in writing, direct the approved clearing house to pay a specified amount, being the whole or part of such costs and expenses, within such time and in such manner as may be specified in the direction. (3) Where an approved clearing house fails to comply with a direction under subsection (2), the amount specified in the direction may be sued for and recovered by the Authority as a civil debt. (4) An auditor appointed under subsection (1) must, on the conclusion of the examination and audit, submit a report to the Authority.[Act 12 of 2024 wef 24/01/2025]