(1) The Authority may, if it considers necessary at any time, undertake directly or through its authorized representative, or an auditor, an inspection and audit of the books, accounts, records including the telephone records and electronic records and documents of the pension fund 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 proper books of account, records and documents are maintained;
(c) to ascertain whether adequate internal control systems, procedures and safeguards have been established and are being followed by the pension fund;
48 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(d) to ascertain whether the provisions of the Act or the regulations made 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 pension fund;
(f) to inquire suomotu into any other matter in the interest of subscriber or pension system.
(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);
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).
(b) appoint a qualified valuer or direct a qualified valuer to be appointed by the National Pension System Trust, if so considered necessary by the Authority and the expenses for carrying out any valuation under this clause shall be borne by the pension fund.