Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Part X : Auditor73. Appointment and approval of auditor |
| (1) | A manager must appoint an auditor for the purpose of auditing the whole of the business of the collective investment scheme administered by it. |
| (2) | No director or employee of a manager, trustee or custodian and no firm of which any such director or employee is a member may be appointed as an auditor of a collective investment scheme. |
| (3) | A manager must within 30 days from the date of appointment of an auditor apply to the registrar for approval of such appointment. |
| (4) | The registrar may withdraw a prior approval of the appointment of an auditor. |
| (5) | An auditor who has been removed by a manager from his or her office as auditor, must inform the registrar thereof. |