Financial Sector Legislation Amendment (Prudential Refinements and Other Measures) Act 2010 (82 of 2010)

Schedule 2   Amendment of the Insurance Act 1973

Part 1   Amendments

28   After section 39

Insert:

40 Additional auditors

(1) APRA may, by written notice, require a general insurer to appoint a person who is specified in the notice to be an auditor for a purpose that is specified in the notice.

Example: APRA may require a general insurer to appoint an auditor who has specialist qualifications or experience to perform a special purpose audit.

(2) The specified person may be:

(a) the principal auditor; or

(b) another auditor.