(1) The Authority may, if it considers necessary at any time, undertake directly or through its authorized representative or auditor an inspection and audit of the books, accounts, records including the telephone records and electronic records and documents of the central recordkeeping agency for any purpose, including the purposes as specified under this regulation.
(2) The purposes referred to in sub-regulation (1) may include,-
(a) to ascertain the infrastructural capabilities, systems and procedures;
(b) to ensure that the books of account, records including telephone records and electronic records and documents are being maintained in the manner required under these regulations;
(c) to ascertain whether adequate internal control systems, procedures and safeguards have been established and are being followed by the central recordkeeping agency;
(d) to ascertain whether the provisions of the Act or the rules or regulations made thereunder or circulars, guidelines or notifications issued by the Authority are being complied with;
(e) to inquire into the complaints received from subscribers, nodal offices, intermediaries or any other person on any matter having a bearing on the activities assigned by the Authority to the central recordkeeping agency;
(f) to inquire suomotu into such matters as may be deemed fit in the interest of subscribers.
(3) The Authority may,-
(a) appoint one or more authorized representatives or, appoint a qualified auditor to undertake the inspection or audit referred to in sub-regulation (1);
(b) appoint a qualified valuer or direct a qualified valuer to be appointed by the central recordkeeping agency, if so considered necessary by the Authority and the expenses for carrying out any valuation under this clause shall be borne by the central recordkeeping agency.
Explanation.- For the purposes of this sub-regulation, the expression “qualified auditor” shall have the meaning derived from section 226 of the Companies Act, 1956 (1 of 1956).