Regulation 45 - Functions of auditors of collective investment scheme - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

Functions of auditors of 1 [collective investment scheme] 45. (1) The auditor of the 2 [collective investment scheme] shall, as soon as possible, notify the Board and the trustee in writing if he has reasonable grounds to suspect that a contravention of the regulations has occurred or if the 3 [collective investment scheme]s are not conducted on sound commercial principles. (2) The auditor of the 4 [collective investment scheme]: (a) shall have a right to access at all reasonable times to the books of the 5 [collective investment scheme]; and (b) may require any employee of the Collective Investment Management Company to give the auditor information and explanations for the purposes of the audit. *************** NOTES:- 1 ibid. 2 ibid. 3 ibid. 4 ibid. 5 ibid.