96Special audit of dealer’s trust account

96 Special audit of dealer’s trust account

96 Special audit of dealer’s trust account

The Secretary may, by notice in writing to a motor dealer, require the motor dealer to take the following action if the Secretary is of the opinion that the circumstances of the motor dealer’s business warrant it—

(a) to obtain and to furnish to the Secretary a report of an auditor relating to a trust account of the motor dealer containing such information and matters as the Secretary may specify,

(b) to lodge with the Secretary a guarantee from an authorised deposit-taking institution in favour of the Secretary (in a form approved by the Secretary) or such other security as may be specified by the Secretary in respect of the sale on consignment of motor vehicles by the dealer.