(1) As soon as practicable after an auditor of an authorised reinsurance undertaking or authorised SPRV -
(a) forms the belief on reasonable grounds that circumstances exist that are likely to affect materially the ability of the undertaking or SPRV to fulfil its obligations to third parties, or to meet any of its material financial requirements, under these Regulations, or
(b) forms the belief on reasonable grounds that there are material defects in the financial systems and controls or accounting records of the undertaking or SPRV that are likely to have that effect, or
(c) decides to qualify any certificate that the auditor is required to provide in relation to financial statements or returns of the undertaking or SPRV under the Companies Acts, or
(d) decides to resign or not to seek re-election as auditor, or
(e) while conducting an audit of the affairs of another person that is in a control relationship with the undertaking or SPRV, becomes aware of any facts or decisions that are
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