SETTLEMENT AGENTS ACT 1981 - SECT 68

SETTLEMENT AGENTS ACT 1981 - SECT 68

68 .         Accounts of firm or body corporate or settlement agent with branch office, effect of audits as to

        (1)         Where trust accounts are kept by a firm of settlement agents an audit of those accounts under this Division and the certificates and report of the auditor thereof operate as regards those trust accounts as an audit certificate and report in relation to each settlement agent who is a member of such firm and in relation to the settlement agent who is in bona fide control of the settlement agent’s business of the firm.

        (2)         Where trust accounts are kept by a body corporate an audit of those accounts under this Division and the certificates and report of the auditor thereof operate as regards those trust accounts as an audit certificate and report in relation to a settlement agent who is a director of that body corporate and in relation to the settlement agent who is in bona fide control of the settlement agent’s business of the body corporate.

        (3)         Where trust accounts are kept by a settlement agent who or which has a branch office an audit of those accounts, including the accounts of the branch office, under this Division and the certificates and reports of the auditor thereof operate as regards those trust accounts as an audit certificate and report in relation to a settlement agent who is the manager of the branch office.