Document ID: chunk:federal_register_of_legislation:C2012C00862:clause:2_36
Version: federal_register_of_legislation:C2012C00862
Segment Type: clause
Provision Reference: sch 2 cl 36
Character Range: 56995–57470

36  Subsection 49J(1)
Repeal the subsection, substitute:
 (1) For each general insurer:
 (a) the principal auditor of the insurer must audit the insurer's yearly statutory accounts; and
 (b) an auditor of the insurer must perform for the insurer the functions of an auditor set out in the prudential standards; and
 (c) an auditor of the insurer must prepare, and give to the insurer, the reports (if any) required by the prudential standards to be prepared by the auditor.