s 13 Appointment of auditors
13.—(1) Every licensed housing developer must appoint annually an auditor whose duties are to make a report upon the annual accounts of the housing developer. (2) The auditor must in every such report state in the auditor’s opinion whether —(a) the accounts are fully and fairly and properly drawn up; (b) the accounts exhibit a true and correct statement of the licensed housing developer’s affairs; and (c) if the auditor has called for explanation or information from the officers or agents of the licensed housing developer, the explanation or information has been satisfactory.[15/2013] (3) If a licensed housing developer fails to appoint an auditor under subsection (1) or at any time fails to fill a vacancy for an auditor, the Minister has power to appoint an auditor and may fix the remuneration to be paid by the licensed housing developer to the auditor. (4) The following persons are not eligible for appointment as an auditor for a licensed housing developer:(a) a person having an interest in the business of the licensed housing developer, as a shareholder or otherwise; (b) a director, officer, employee or agent of the licensed housing developer. (5) Any person appointed as an auditor to a licensed housing developer must forthwith cease to be its auditor if, after such appointment, the person —(a) acquires an interest in the business of the licensed housing developer as a shareholder or otherwise; or (b) becomes a director, officer, employee or agent of the licensed housing developer. (6) The duties, powers and liabilities imposed and conferred under section 16 in relation to an investigation by the Controller or an inspector of the affairs of a licensed housing developer under section 14 or 15 are imposed and conferred upon auditors appointed under this section.