Conduct of the examination

(1) Statutory compensation schemes must conduct the examinations under section 35 through their own qualified examiners or must engage suitable third parties to conduct the examinations. Suitable third parties are auditors, sworn accountants, audit and accounting firms, and other third parties who have the necessary knowledge and experience, provided there are no circumstances that could give rise to conflicts of interest for those persons in respect of the CRR credit institutions to be examined. The compensation scheme must require the persons entrusted with the examinations to inform it without delay of the existence of any such circumstances. The examinations may not be conducted by the statutory auditor or by the examiner of the CRR credit institution's reporting obligations and rules of conduct.
(2) The statutory compensation scheme sets out the details of the examinations in examination guidelines, which require BaFin's approval.
(3) During normal business and operating hours, the employees of the statutory compensation scheme, or the persons acting for it under subsection (1), must be permitted, insofar as necessary for the performance of the compensation scheme's tasks under this Act, to enter the premises and business premises of the CRR credit institution. A person obliged to provide information may refuse to answer questions the answering of which would expose that person, or one of the relatives named in section 383(1), nos. 1 to 3 of the Code of Civil Procedure, to the risk of criminal prosecution or of proceedings under the Act on Regulatory Offences. The person obliged must be informed of the right to refuse to provide information.
(4) The employees of the statutory compensation scheme, and the persons acting for it under subsection (1), may enter the business premises of a CRR credit institution during normal business and operating hours, insofar as BaFin has ordered measures against that CRR credit institution under section 46 of the Banking Act. All documents they need to prepare a compensation procedure under sections 12 to 15 must be submitted to them. Where areas of the CRR credit institution have been outsourced to another undertaking, the first and second sentences apply accordingly as against that undertaking.