Auditor to prepare written report

(1)

As soon as practicable after the end of each calendar year, the Fund Manager must arrange for an independent auditor to prepare a written report on the financial state of the Fund.

(2)

The auditor must be a person who:

(a)

is registered, or is taken to be registered, as a company auditor under Part 9.2 of the Corporations Law; or

(b)

is a member of the Institute of Chartered Accountants in Australia, the Australian Society of Certified Practising Accountants or any other body prescribed for the purposes of subparagraph 1280(2)(a)(i) of the Corporations Law; or

(c)

is approved by the Secretary as an auditor for the purposes of this section.

(3)

The report must be given to the Minister and the Panel.

Minister may require other reports

(4)

The Minister may at any time give the Fund Manager a written notice requiring the Fund Manager to arrange for other reports about the Fund.

(5)

The Minister must publish a copy of the notice in the Gazette .