(1) The National Pension System Trust shall undertake directly or through its authorized representative, inspection or audit or both of the Trustee Bank, on an annual basis or at such other period as may be specified by the Authority in relation to operational Service Level Agreements in accordance with the provisions of Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015. The Trustee Bank shall allow the National Pension System Trust, or its authorized representative to have a reasonable access to the premises occupied by it, books of accounts, records and provide necessary information as may be required by it for the purpose of such inspection or audit, as the case may be.
(2)The National Pension System Trust shall be entitled to recover from the Trustee Bank such expenses incurred by it for the purposes of inspection or audit undertaken directly or through its authorized representative.
(3) The scope of audit or inspection may be modified by the Authority as may be specified by it from time to time.
CHAPTER VI SUSPENSION OR CANCELLATION OF CERTIFICATE AND ACTION IN CASE OF DEFAULT