The auditor or actuary for an approved scheme commits an offence if the auditor or actuary—
(a) forms the belief that—
(i) the scheme is insolvent, or there is a significant risk that it will become insolvent; or
(ii) the trustees have contravened this Act or another Territory law in relation to the scheme; and
Note A reference to an Act includes a reference to the statutory instruments made or in force under the Act, including regulations and prudential standards (see Legislation Act, s 104).
(b) fails to give the planning and land authority written notice about the matter within 7 days after the day the auditor or actuary forms the belief.
Maximum penalty: 100 penalty units, imprisonment for 1 year or both.