64
CAP. 333]
Securities
[1989 Ed.
88. Dealer to lodge auditor's report
(1) A dealer shall, in respect of the financial year beginning before and ending after-
(a) the day on which this section commences; or
(b) the day on which the dealer commences to carry on business as a dealer,
whichever is the later day, and in respect of each subsequent financial year, prepare a true and fair profit and loss account and a balance sheet made up to the last day of the financial year and cause those documents to be lodged with the Commission not later than 4 months after the end of the financial year, together with an auditor's report containing the information prescribed by regulations. (Amended 62 of 1976 s. 26)
(2) Notwithstanding subsection (1), the period within which the documents referred to in subsection (1) are required to be lodged may be extended by the Commission for a period not exceeding one month, where an application for the extension is made by the dealer and the Commission is satisfied there are special reasons for requiring the extension.
(3) An extension under subsection (2) may be allowed subject to such conditions, if any, as the Commission thinks fit to impose.
(4) Any dealer who fails to lodge the documents required by this section with the Commission within the time allowed by or under this section shall be guilty of an offence and shall be liable on conviction to a fine of $5,000.
89. Auditor to send report directly to Commission in certain cases
(Amended 10 of 1989 s. 65)
If, during the performance of his duties as auditor for a dealer, an auditor-
(a) becomes aware of any matter which in his opinion adversely affects the financial position of the dealer to a material extent; or
(b) discovers evidence of a contravention by the dealer of section 65B, 81, 83 or 84, (Amended 58 of 1985 s. 58)
he shall, as soon as practicable thereafter, send to the Commission and to the dealer a report in writing of the matter or, as the case may be, concerning the contravention.
(Amended 10 of 1989 s. 65)
90. Power of Commission to appoint auditor
(1) Where-
(a) a dealer has failed to lodge an auditor's report under section 88;
(b) the Commission has received a report under section 89; or
Page 66
1989 Ed.]
64
CAP. 333]
Securities
[1989 Ed.
88. Dealer to lodge auditor's report
(1) A dealer shall, in respect of the financial year beginning before and ending after-
(a) the day on which this section commences; or
(b) the day on which the dealer commences to carry on business as a
dealer,
whichever is the later day, and in respect of each subsequent financial year, prepare a true and fair profit and loss account and a balance sheet made up to the last day of the financial year and cause those documents to be lodged with the Commission not later than 4 months after the end of the financial year, together with an auditor's report containing the information prescribed by regulations. (Amended 62 of 1976 s. 26)
(2) Notwithstanding subsection (1), the period within which the documents referred to in subsection (1) are required to be lodged may be extended by the Commission for a period not exceeding one month, where an
A application for the extension is made by the dealer and the Commission is satisfied there are special reasons for requiring the extension.
(3) An extension under subsection (2) may be allowed subject to such conditions, if any, as the Commission thinks fit to impose.
(4) Any dealer who fails to lodge the documents required by this section with the Commission within the time allowed by or under this section shall be guilty of an offence and shall be liable on conviction to a fine of $5,000.
89. Auditor to send report directly to Commission in certain cases
(Amended 10 of 1989 s. 65)
If, during the performance of his duties as auditor for a dealer, an auditor-
(a) becomes aware of any matter which in his opinion adversely
affects the financial position of the dealer to a material extent; or (b) discovers evidence of a contravention by the dealer of section
65B, 81, 83 or 84, (Amended 58 of 1985 s. 58)
he shall, as soon as practicable thereafter, send to the Commission and to the dealer a report in writing of the matter or, as the case may be, concerning the contravention.
(Amended 10 of 1989 s. 65)
90. Power of Commission to appoint auditor
(1) Where-
(a) a dealer has failed to lodge an auditor's report under section 88; (b) the Commission has received a report under section 89; or
1Page 66
1989 Ed.]
No comments yet.
Private notes are available after approval.