28.—(1) Notwithstanding the provisions of the Companies Act [Cap. 50] or anything contained in this Part, the Board may —| (a) | itself appoint an auditor under this Part; and | | (b) | impose all or any of the following duties on an auditor of a commodity marketor a Commodity Futures Exchange, a clearing house, a commodity broker, a commodity futures broker, a commodity trading adviser, a commodity futures trading adviser, a commodity pool operator or a commodity futures pool operator, as the case may be:| (i) | a duty to submit such additional information in relation to his audit as the Board considers necessary; | | (ii) | a duty to enlarge or extend the scope of his audit of the business and affairs of a commodity market, a Commodity Futures Exchange, a clearing house, a commodity futures broker, a commodity trading adviser, a commodity futures trading adviser, a commodity pool operator or a commodity futures pool operator; [22/2001 wef 27/06/2001] | | (iii) | a duty to carry out any other examination or establish any procedure in any particular case; and | | (iv) | a duty to submit a report on any of the matters referred to in sub-paragraphs (ii) and (iii), |
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| and a commodity market, a Commodity Futures Exchange, a clearing house, a commodity futures broker, a commodity trading adviser, a commodity futures trading adviser, a commodity pool operator or a commodity futures pool operator, as the case may be, shall remunerate the auditor in respect of the discharge of all or any of the additional duties. |
[22/2001 wef 27/06/2001] (2) If an auditor in the course of the performance of his duties as an auditor of a commodity market, a Commodity Futures Exchange, a clearing house, a commodity broker, a commodity futures broker, a commodity trading adviser, a commodity futures trading adviser, a commodity pool operator or a commodity futures pool operator, as the case may be, is satisfied that —| (a) | there has been a serious breach or non-observance of this Act or any regulations made thereunder, or that otherwise a criminal offence involving fraud or dishonesty has been committed; | | (b) | serious irregularities have occurred, including irregularities that jeopardise the funds, securities or property of the customers; or | | (c) | he is unable to confirm whether claims of creditors are still covered by the assets, |
| he shall immediately report the matter to the Board. |
[22/2001 wef 27/06/2001] |
| (3) An auditor appointed under subsection (1)(a) shall have all the powers conferred upon an auditor under section 24. |
| (4) Where the Board is of the opinion that the whole or any part of the costs and expenses of an auditor appointed under subsection (1)(a) should be borne by a commodity market, a Commodity Futures Exchange, a clearing house, a commodity broker, a commodity futures broker, a commodity trading adviser, a commodity futures trading adviser, a commodity pool operator or a commodity futures pool operator, as the case may be, the Board may by order in writing direct that the market, Exchange, clearing house, broker, futures broker, trading adviser, futures trading adviser, pool operator or futures pool operator, as the case may be, shall pay a specified amount, being the whole or part of the costs and expenses within the time and manner specified in the order. [22/2001 wef 27/06/2001] |
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