THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.5 - DEALERS' FINANCIAL STATEMENTS AND AUDIT

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SECTION 861   AUDITOR TO REPORT TO COMMISSION ON CERTAIN MATTERS  

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861(1)  [Auditor to report prescribed matters]  

Where an auditor, in the performance of duties as auditor of the holder of a licence, becomes aware of a prescribed matter, the auditor shall, within 7 days after becoming aware of the matter, lodge a written report on the matter and send a copy of the report to the holder and to each securities exchange of which the holder is a member.

861(2)  [Definition of ``prescribed matter'']  

In this section:

``prescribed matter'' means a matter that, in the opinion of the auditor:

(a)  has adversely affected, is adversely affecting or may adversely affect the ability of the holder to meet the holder's obligations as a dealer; or

(b)  constitutes or may constitute a contravention of section 856, 866, 867, 868, 869, 870, 871, 872 or 873, or Part 7.7 or of a condition of the licence.

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