Regulation 76(1) An approved trustee of a scheme shall appoint at least one person as auditor of the scheme within three months after the day on which a scheme is registered under section 129 or 135 of the Act, or within such extended period as the Authority may permit.(2) An auditor of a registered scheme shall hold office until(a) in the case of an individual person the death of that person,(b) in the case of a firm that is not reconstituted, dissolution of that firm, or(c) the removal or resignation from office of the auditor in accordance with these Regulations,(d) the expiration of the period for which the auditor was appointed; and(e) the auditor ceases to be qualified to be the auditor of a registered scheme.(3) The trustee shall within thirty days of a vacancy occurring in the office of auditor of a registered scheme, or within an extended period permitted by the Authority appoint another auditor to fill the vacancy.(4) A person shall not be appointed as the auditor of a registered scheme unless that person (a) has consented to act as auditor of the scheme by written notice given to the trustee before the appointment; and(b) has not withdrawn the consent by another written notice.(5) An appointment made by a trustee contrary to sub-regulation (4) is of no effect. (6) An approved trustee who fails to take reasonable steps to comply with a requirement of this regulation commits an offence and is liable on summary conviction to a fine of one thousand, two hundred and fifty penalty units or to a term of imprisonment of not less than one year and not more than four years or to both.