Date of audit, Commissioner may change
52 Date of audit, Commissioner may change
Notwithstanding anything else in this Division a settlement agent may apply in writing to the Commissioner to fix some date other than 30 June, as the date up to which his trust accounts are to be audited, and the Commissioner may, in its discretion, permit the settlement agent to substitute such other date for 30 June.
The Commissioner may, upon giving not less than one year’s notice to the settlement agent affected, revoke any permission granted under this section.
When permission is granted under this section the Commissioner shall fix the period in respect of which the first audit shall be made, and the permission may be given upon such conditions, with respect to the time within which the first or any subsequent audit shall be made or otherwise, as the Commissioner may think fit.
So long as the permission remains in force, and subject to any conditions which may be imposed, section 51 shall, in relation to the settlement agent concerned, be read as if such other date was substituted for 30 June.
When any date has been substituted for 30 June under this section, the date so substituted shall not be further changed except by permission of the Commissioner granted in accordance with this section.
[Section 52 amended: No. 58 of 2010 s. 176.]
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