Mandating Procedures of Provinces Act, 2008
R 385
Legal Practice Act, 2014 (Act No. 28 of 2014)Chapter 6 : Legal Practitioners' Fidelity FundPart 2 : Operation of Fund75. Audit |
| (1) | The accounts of the Fund must be audited by a registered accountant and auditor appointed by the Board. |
| (2) | A person appointed under subsection (1) must, in respect of each financial year of the Fund, draw up a balance sheet and income statement of the Fund and immediately submit certified copies thereof, together with his or her report thereon, to the chairperson of the Board and to the Council. |
| (3) | Within one month of receiving the audited financial statements, the Board must submit an annual report to the Council and the Minister which must at least set out and contain— |
| (a) | the total number of persons who made claims in terms of this Act; |
| (b) | the total number of legal practitioners who paid contributions in terms of this Act; |
| (c) | the total number of persons who were paid claims and the monetary value of claims paid in terms of this Act; and |
| (d) | any other matters as may be prescribed by the Minister. |
