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CONVEYANCERS ACT 2006 - SECT 88 Disclosure of information generally

CONVEYANCERS ACT 2006 - SECT 88

Disclosure of information generally

    (1)     An approved auditor may disclose information acquired during the course of an audit under this Division—

        (a)     as is necessary for properly conducting the audit and making a report; or

        (b)     to an inspector or a statutory manager or receiver appointed under this Act; or

S. 88(ba) inserted by No. 17/2007 s. 26(1).

        (ba)     to the Director; or

        (c)     to the licensee concerned or an associate of the licensee concerned.

S. 88(2) inserted by No. 17/2007 s. 26(2).

    (2)     If an approved auditor becomes aware of—

        (a)     a deficiency in any trust account or trust ledger account of a licensee; or

        (b)     a failure by a licensee to pay or deliver any trust money; or

        (c)     any other failure by a licensee to comply with this Act or the regulations—

the auditor must report the deficiency or failure to the Director as soon as practicable after becoming aware of it.

S. 88(3) inserted by No. 17/2007 s. 26(2).

    (3)     The regulations may provide for the manner in which a report under subsection (2) is to be made and the information or material that is to be included in or to accompany the report.

S. 88(4) inserted by No. 17/2007 s. 26(2).

    (4)     If an approved auditor forms the opinion that the trust records of a licensee are not being kept in a way that enables them to be conveniently and properly audited, the auditor must report that opinion to the Director as soon as practicable after forming the opinion.