Trusts and Trustees Act (Cap. 331), article 43C

43C. (1) An auditor of a trustee authorised in terms of the Act, shall have the duty to report immediately to the Authority any fact or decision of which he becomes aware in his capacity as audito r of such trustee which: (a) is likely to lead to a serious qualification or refusal of the auditor’s report on the accounts of such trustee; or (b) constitutes or is likely to constitute a material breach of the legal or regulatory requirements applicable to trustees under this Act; or (c) gravely impairs the trustee’s ability to continue as a going concern; or (d) relates to any ot her matter which may be prescribed: Provided that the matters prescribed in this paragraph may include matters related to any interested person other than the trustee. (2) The auditor of a corporate trustee shall report to the Authority any facts or decision, as specified in sub-article (1 ), regarding any person having close links with such trustee of wh ich he becomes aware in his capacity as auditor of the trustee or o f the person having such close links. (3) No duty (including the duty of professional secrecy) to which an auditor of the trustee may be subject, shall be regard ed as contravened by reason of his com municating in good faith to the Authority, whether or not in response to a request from it, any information or opinion on a matter of which the auditor has become aware in his capacity as auditor of that trustee and which is r elevant to any function of the Authority under the provisions of the Ac t or is required to be communicated by virtue of sub-article (1). 48 CAP. 331.] TRUSTS AND TRUSTEES Substituted by: XIII. 2004.29. APPLICATION, GRANT, REVOCATION, ETC., OF AUTHORISATION Application for authorisation. Amended by: XIV . 1989.8; XX. 1994.4. Substituted by: XIII. 2004.29. Amended by: XI. 2014.44.