(1) The Regulator may make Rules requiring Authorised Persons, Recognised Bodies or Reporting Entities or any particular class thereof —
(a) to appoint —
(i) an auditor; or
(ii) an actuary; and
(b) to produce periodic financial reports; and
(c) to have them reported on by an auditor or an actuary.
(2) The Regulator may make Rules —
(a) imposing such duties on auditors referred to in subsection (1) as may be Specified; and
(b) imposing such duties on actuaries referred to in subsection (1) as may be Specified.
(3) Rules under subsection (1) may make provision —
(a) specifying the manner in which and time within which an auditor or actuary is to be Appointed;
(b) requiring the Regulator to be notified of an appointment;
(c) enabling the Regulator to make an appointment if no appointment has been made or notified;
(d) as to the term of office, remuneration, removal and resignation of an auditor or actuary.
(4) An auditor or actuary Appointed as a result of Rules under subsection (1), or on whom duties are imposed by Rules under subsection (2) —
(a) must act in accordance with such provision as may be made by Rules; and
(b) is to have such powers in connection with the discharge of his functions as may be provided by Rules.