(iii) payment of royalties to members in accordance with the organisation’s distribution policy. (3) Collective Management Organisations shall provide users of copyright works, or any member of the public, upon a written request, reasonable information on their services. Such information shall include: a. The description of the rights or class(es) of rights it administers; b. Its Current Licensing arrangements including tariff, terms and conditions of licence for all categories of users; c. and such other relevant information that may be necessary. (4) Where a Collective Management Organisation seeks any change in the tariff rates for any category of users, it shall inform such users through a medium that could be accessed publicly by them. (5) Where the Commission is satisfied that a Collective Management Organisation is in breach of any of the provisions of subparagraphs 1 to 4 above, the Organisation and/or its officers may be liable to a written caution and be required to rectify the breach within a specified time. (6) Upon failure to rectify the breach within the specified period, the Collective Management Organisation shall be liable to a fine of N50, 000. 00 (Fifty thousand naira). 9. Report of Meetings Every Society licensed under these Regulations to function as a Collective Management Organisation shall cause a report containing the minute and decisions taken at every meeting of the General Assembly and Governing Board of the Society to be entered in a special register kept for that purpose and a certified copy of such report shall be submitted to the Commission where the Commission so requires. 10. Accounts, Annual Report and Audit (1) Every Collective Management Organisation shall keep proper accounts consistent with ordinary accounting/commercial standard. (2) The Commission may, if it considers it necessary, at any time appoint an auditor to audit the accounts of a Collective Management Organisation and the cost of such auditing shall be borne by the Organisation. (3) Where as a result of an examination of any account or audit of any account it appears to the Commission that any offence under any enactment has been committed by the society or by any of its officers, the Commission may initiate a criminal proceedings against the Collective Management