Section 20Part 3 — Operating Conditions for Private Funds
Special measures
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The Authority may, where it considers that a private fund has breached or is at risk of breaching any of its obligations under this Act , enforce special measures against that private fund, which may include instructing the private fund to —
have its accounts audited by an auditor approved by the Authority and to submit them to the Authority within such time as the Authority specifies ; or
provide a one - off or periodic report to the Authority on certain matters requested by the Authority in connection with the private fund in such form and within such time as the Authority specifies.
A person who fails to comply with an instruction by the Authority under subsection ( 1 ) commits an offence and is liable on conviction to a fine of ten thousand dollars plus five hundred dollars in respect of each day after the specified time during which the private fu nd failed to comply with the instruction.