Commonwealth Numbered Acts

NATIONAL COMPANIES AND SECURITIES COMMISSION ACT 1979 No. 173, 1979 - SECT 34

34. (1) The Auditor-General shall inspect and audit the accounts and records
of financial transactions of the Commission and records relating to assets of,
or in the custody of, the Commission and shall forthwith draw the attention of
the Ministerial Council to any irregularity disclosed by the inspection and
audit that is, in the opinion of the Auditor-General, of sufficient importance
to justify his so doing.

(2) The Auditor-General may, at his discretion, dispense with all or any part
of the detailed inspection and audit of any accounts or records referred to in
sub-section (1).

(3) The Auditor-General shall, at least once in each year, report to the
Ministerial Council the results of the inspection and audit carried out under
sub-section (1).

(4) The Auditor-General or a person authorized by him is entitled at all
reasonable times to full and free access to all accounts and records of the
Commission relating directly or indirectly to the receipt or payment of moneys
by the Commission or to the acquisition, receipt, custody or disposal of
assets by the Commission.

(5) The Auditor-General or a person authorized by him may make copies of, or
take extracts from, any such accounts or records.

(6) The Auditor-General or a person authorized by him may require any person
to furnish him with such information in the possession of the person, or to
which the person has access, as the Auditor-General or authorized person
considers necessary for the purposes of the functions of the Auditor-General
under this Act, and the person shall comply with the requirement.

(7) A person who contravenes sub-section (6) is guilty of an offence and is
punishable, upon conviction, by a fine not exceeding $200.