South Australian Current Acts

STRATA TITLES ACT 1988 - SECT 36H

36H—Audit of trust accounts

        (1)         An agent who maintains a trust account must—

            (a)         have the accounts and records kept under this Division audited by an auditor in respect of each audit period specified by regulation; and

            (b)         forward to the secretary of the strata corporation a statement relating to the audit that sets out the information specified by regulation.

        (2)         An agent who—

            (a)         fails to have accounts and records audited as required; or

            (b)         fails to forward the audit statement to the secretary of the strata corporation within the time allowed by or under the regulations,

is guilty of an offence.

Penalty: Division 5 fine.