Section 108: Termination of appointment of auditor
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
108. Termination of appointment of auditor
(1) Subject to subsection (2), the Commission may direct a CIS manager
or a collective investment scheme, as the case may be, to terminate the appointment of an audit firm which contravenes any requirement of this Act,
any regulations made under this Act or any FSC Rules or which no longer
qualifies to provide an independent auditing service to that CIS manager or
collective investment scheme.
(2) The Commission shall not issue a direction under subsection (1)
unless—
(a) the reasons for the termination of the appointment have been
disclosed; and
(b) the auditor, the CIS manager or collective investment scheme
are given the opportunity to make representations on the matter.
Sub-Part D – Terminating Collective Investment Schemes