Additional powers of Board in respect of auditors
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 market, a clearing house, a commodity broker, a commodity trading adviser or a commodity 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 clearing house, a commodity trading adviser or a commodity pool operator;
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(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),
and a commodity market, a clearing house, a commodity trading adviser or a commodity pool operator, as the case may be, shall remunerate the auditor in respect of the discharge of all or any of the additional duties.
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(2)  If an auditor in the course of the performance of his duties as an auditor of a commodity market, a clearing house, a commodity broker, a commodity trading adviser or a commodity 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.
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(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 clearing house, a commodity broker, a commodity trading adviser or a commodity pool operator, as the case may be, the Board may by order in writing direct that the market, clearing house, broker, trading adviser or pool operator, as the case may be, pay a specified amount, being the whole or part of the costs and expenses within the time and manner specified in the order.
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