85Annual report of trust records audit or statutory declaration

85 Annual report of trust records audit or statutory declaration S. 85(1) amended by No. 63/2010 s. 55(1)(2). (1) An approved auditor must provide a licensee with a report of each audit of the licensee's trust records carried out by the auditor under section 84 within 7 weeks after the end of the audit period to which the audit relates. 1. 25 penalty units. S. 85(1A) inserted by No. 63/2010 s. 55(3). (1A) Within 10 business days after receiving a report under subsection (1), the licensee must lodge a copy of the report with the Director. Penalty: 120 penalty units. (2) The Director may, by written notice, require a licensee to lodge with the Director a statutory declaration stating whether or not the licensee holds, or has held in any specified period, any trust money in the licensee's trust account. (3) A licensee must comply with a requirement of the Director under subsection (2).