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(1) The Exchange will review the performance and procedures of sponsors to ascertain:
(a) the quality of the due diligence and standards applied in assessing the suitability of companies for listing on Catalist;
(b) the quality of continuing activities; and
(c) whether the sponsor's activities are being conducted in accordance with the Rules.
(2) In carrying out the review, the Exchange may:
(a) appoint any person(s) to assist in the review and delegate any of its powers to such person(s); or
(b) require a sponsor to appoint, at its cost, a special auditor to review or investigate the sponsor's affairs, and report its findings to the Exchange, the sponsor or such other party as the Exchange may direct. The Exchange must agree with the special auditor appointed and the scope of the audit.
(3) The review may take one or more of the following forms:
(a) review of documents submitted by the sponsor;
(b) interviews with the sponsor's directors, officers, registered professionals, employees, agents or other relevant third parties;
(c) audit of the sponsor's documents, records and procedures;
(d) inspection; and
(e) investigation.