(3) If the Director is satisfied that an auditor has failed to comply with a direction issued under subsection (1), the Director may direct that the auditor no longer audit an estate agent's accounts of trust money. (4) The Director must give the auditor a reasonable opportunity to make written or oral submissions, or both, before giving a direction under subsection (3). (5) A direction under subsection (3) must be published in the Government Gazette and takes effect on the day it is published in the Government Gazette. (6) As soon as is practicable after making a direction under subsection (3), the Director must give a copy of the direction to each approved industry association. 64 Annual audit of trust accounts (1) Within three months after 30 June in each year, S. 64(1) amended by every person who carried on business as an estate No. 9925 agent during the whole or any part of the previous s. 5(a), substituted by financial year shall cause his accounts of trust No. 10028 money for the whole or the part of that financial s. 36(a), amended by year to be audited. Nos 41/2003 s. 41(1), 120 penalty units. 63/2010 s. 47(1). (1A) The agent must not engage a person or firm as an S. 64(1A) inserted by auditor for the purposes of subsection (1) if the No. 41/2003 person or firm is not qualified under section 66 to s. 41(2). act as the auditor. 25 penalty units.
(3) If the Director is satisfied that an auditor has failed to comply with a direction issued under subsection (1), the Director may direct that the auditor no longer audit an estate agent's accounts of trust money. (4) The Director must give the auditor a reasonable opportunity to make written or oral submissions, or both, before giving a direction under subsection (3). (5) A direction under subsection (3) must be published in the Government Gazette and takes effect on the day it is published in the Government Gazette. (6) As soon as is practicable after making a direction under subsection (3), the Director must give a copy of the direction to each approved industry association. 64 Annual audit of trust accounts S. 64(1) amended by No. 9925 s. 5(a), substituted by No. 10028 s. 36(a), amended by Nos 41/2003 s. 41(1), 63/2010 s. 47(1). (1) Within three months after 30 June in each year, every person who carried on business as an estate agent during the whole or any part of the previous financial year shall cause his accounts of trust money for the whole or the part of that financial year to be audited. 120 penalty units. S. 64(1A) inserted by No. 41/2003 s. 41(2). (1A) The agent must not engage a person or firm as an auditor for the purposes of subsection (1) if the person or firm is not qualified under section 66 to act as the auditor. 25 penalty units.
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