On 22/05/2013,
you requested for the version in force on 22/05/2013
incorporating all amendments published on or before 22/05/2013.
The closest version currently available is that of 31/07/2005.
84.
—(1) An auditor of a registered business trust shall report to the unitholders of the registered business trust on the accounts required to be laid before the unitholders in general meeting and on the accounting and other records of the registered business trust relating to those accounts.
(2) A report by an auditor of a registered business trust under subsection (1) shall be furnished by the auditor to the trustee-manager of the registered business trust in sufficient time to enable the trustee-manager to comply with the requirements of section 78(1) in relation to that report, but no offence shall be committed by an auditor under this subsection if the trustee-manager has not submitted the accounts for audit as required under this Part in sufficient time, having regard to the complexity of the accounts, for the auditor to make his report.
(3) An auditor of a registered business trust shall, in a report under this section, state —
(a)
whether the accounts, in his opinion —
(i)
give a true and fair view of the matters required by section 76 to be dealt with in the accounts; and
(ii)
are in accordance with this Act so as —
(A)
in the case of a balance sheet, to give a true and fair view of the state of affairs of the registered business trust;
(B)
in the case of a profit and loss account, to give a true and fair view of the profit or loss of the registered business trust; and
(C)
in the case of a cash flow statement, to give a true and fair view of the cash flow of the business of the registered business trust;
(b)
whether the accounting and other records required by this Act to be kept by the trustee-manager of the registered business trust have been, in his opinion, properly kept in accordance with this Act;
(c)
any defect or irregularity in the accounts and any matter not set out in the accounts without regard to which a true and fair view of the matters dealt with by the accounts would not be obtained; and
(d)
if he is not satisfied as to any matter referred to in paragraph (a) or (b), his reasons for not being so satisfied.
(4) It shall be the duty of an auditor of a registered business trust to form an opinion as to —
(a)
whether he has obtained all the information and explanations that he required; and
(b)
whether proper accounting and other records have been kept by the trustee-manager of the registered business trust as required by section 75 of this Act,
and he shall state in his report particulars of any deficiency, failure or short-coming in respect of any matter referred to in this subsection.
(5) An auditor of a registered business trust —
(a)
shall have right of access at all times to the accounting and other records, including registers, of the registered business trust; and
(b)
shall be entitled to require from any officer of the trustee-manager of the registered business trust and any auditor of a related corporation of the trustee-manager such information and explanations as the auditor may desire for the purposes of audit.
(6) The auditor’s report shall —
(a)
be attached to or endorsed on the accounts;
(b)
if any unitholder of the registered business trust so requires, be read before the unitholders of the registered business trust in general meeting; and
(c)
be open to inspection by any unitholder of the registered business trust at any reasonable time.
(7) An auditor of a registered business trust or his agent authorised by him in writing for the purpose shall be entitled —
(a)
to attend any general meeting of the unitholders of the registered business trust;
(b)
to receive all notices of, and other communications relating to, any general meeting which a unitholder of the registered business trust is entitled to receive; and
(c)
to be heard at any general meeting which he attends on any part of the business of the meeting which concerns the auditor in his capacity as auditor of the registered business trust.
(8) If an auditor of a registered business trust, in the course of the performance of his duties as auditor of the registered business trust, is satisfied that —
(a)
there has been a breach or non-observance of any of the provisions of this Act; and
(b)
the circumstances are such that in his opinion the matter has not been or will not be adequately dealt with by comment in his report on the accounts or by bringing the matter to the notice of the board of directors of the trustee-manager of the registered business trust,
he shall immediately report the matter in writing to the Authority.
(9) Notwithstanding subsection (8), if an auditor of a registered business trust, in the course of the performance of his duties as auditor, has reason to believe that a serious offence involving fraud or dishonesty is being or has been committed in relation to the registered business trust by officers or employees of the trustee-manager of the registered business trust, he shall immediately report the matter to the Minister.
(10) No duty to which an auditor of a registered business trust may be subject shall be regarded as having been contravened by reason of his reporting the matter referred to in subsection (9) in good faith to the Minister.
(11) In subsection (9), “a serious offence involving fraud or dishonesty” means an offence —
(a)
that is punishable by imprisonment for a term that is not less than 2 years; and
(b)
in respect of which the value of the property obtained or likely to be obtained from the commission thereof is not less than $20,000.
(12) Any officer of the trustee-manager of a registered business trust who refuses or fails to allow an auditor of the registered business trust access, in accordance with this section, to any accounting and other records, including registers, of the registered business trust in his custody or control or to give any information or explanation as and when required under this section, or otherwise hinders, obstructs or delays an auditor in the performance of his duties or the exercise of his powers, shall be guilty of an offence.
[Companies 1994 Ed., s. 207]