(1) The Auditor-General is to inspect and audit the accounts and records of financial transactions of or relating to the Nominal Insurer at least once during each financial year.
(2) The Auditor-General is to report to the Minister as to the result of any such inspection and audit and as to such irregularities or other matters as in the judgment of the Auditor-General call for special notice.
(3) The Auditor-General is to include a reference to any audit conducted under this section in the report referred to in section 52 (1) of the Government Sector Audit Act 1983 or in any special report that the Auditor-General may at any time think fit to make under section 52 (3) of that Act.
(4) The Nominal Insurer must pay to the Auditor-General out of the Insurance Fund such amounts, at such times, as the Minister decides towards defraying the costs and expenses of any inspection and audit under this section.
Note : The Auditor-General has powers under section 36 of the Government Sector Audit Act 1983 in respect of an inspection and audit under this section.