(1)The Trustee Bank shall file the following periodic reports with the Authority and National Pension System Trust –
(a) extracts of internal audit report from the independent auditors with respect to the National Pension System Trust Accounts, compliance certificates and subscriber complaints reports at regular intervals;
(b) concurrent audit report to be submitted every quarter;
24 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(c) external audit report of all the National Pension System accounts maintained with the Trustee Bank to be submitted annually.
The scope of all the above three audits shall be defined by Authority.
(2) At the end of each financial year, the Trustee Bank shall furnish a statement of the income and expenditure account and a balance sheet reflecting the position of the Trustee Bank as on the closing date of the financial year to the National Pension System Trust.
(3) The Trustee Bank shall file with National Pension System Trust-
(a) Bio-data of all its directors along with their interest in other companies within fifteen days of their appointment; and
(b) any change in the interests of directors at every six months.
(4) A report on discrepancies, if any, to or from the pension fund regarding fund transfer or receipt of funds based on information flow received from pension fund or central recordkeeping agency and actual fund transfer.
(5) Provide periodic reports as per the parameters and frequency defined by the Authority or the National Pension System Trust. Some of the key parameters on which reports are required includes:
(a) account wise balances on daily basis;
(b) fund transfer and receipt status on daily basis;
(c) report on status of identified and unidentified funds in NPS account;
(d) sector wise unmatched amount return report – weekly, monthly or as specified by the Authority.
(6) Any other information or report required by Authority from time to time.
CHAPTER V INSPECTION AND AUDIT