(1) Subject to the
provisions of this Division the auditor by whom the audit of, and reports on,
a settlement agent’s trust accounts are to be made shall be appointed
and employed for that purpose by that settlement agent.
(2) A settlement agent
shall appoint his auditor at the time of applying for his licence.
(3) Subject to this
Act, an auditor’s appointment under this section is continuous unless
the Commissioner approves a subsequent change in the appointment.
[Section 54 amended: No. 58 of 2010 s. 176.]