CSD-6.6 CSD-6.6 Additional Powers of CBB in Respect of Auditors
CSD-6.6.1
The auditor shall immediately send to the CBB a written report of the matter or the irregularity, if an auditor of a
licensed clearing house orlicensed central depository in the course of the performance of his duties, becomes aware of:(a) Any matter which, in his opinion, adversely affects or may adversely affect the financial position of thelicensed clearing house orlicensed central depository to a material extent;(b) Any matter which, in his opinion, constitutes or may constitute a breach of any provision of this Module or an offence involving fraud or dishonesty; or(c) Any irregularity that has or may have a material effect upon the accounts of thelicensed clearing house orlicensed central depository , including any irregularity that affects or jeopardises, or may affect or jeopardise, the funds orproperty of investors.Amended: April 2016CSD-6.6.2
An auditor shall not, in the absence of malice on his part, be liable to any action for defamation at the suit of any
person in respect of any statement made in his report under rule CSD-6.6.1.CSD-6.6.3
Rule CSD-6.6.2 shall not restrict or affect any right, privilege or immunity that the auditor may have, apart from this section, as a defendant in an action for defamation.
CSD-6.6.4
The CBB may impose all or any of the following duties on an auditor of a
licensed clearing house orlicensed central depository :(a) A duty to submit such additional information and reports in relation to his audit, as the CBB considers necessary;(b) A duty to enlarge, extend or alter the scope of his audit of the business and affairs of thelicensed clearing house orlicensed central depository ;(c) A duty to carry out any other examination or establish any procedure in any particular case.Amended: April 2016CSD-6.6.5
The
licensed clearing house orlicensed central depository shall remunerate the auditor in respect of the discharge by him of all or any of the duties referred to in Paragraph CSD-6.6.4.Amended: April 2016