Section 21
of International Banking Order, 2000
Section 21
(1)
Not later than the appropriate interval after the end of each of its financial years, every licensee shall send to the Authority a copy of its audited accounts for that year. [S 9/2001]
(2)
In subsection (1) –
(a)
“the appropriate interval” means three months or such longer period as the Authority may allow in any particular case; and
(b)
“audited accounts” means the audited accounts required to be prepared for the purposes of the International Business Companies Order, 2000
or the Companies Act (Chapter 39) or, in the case of an institution incorporated otherwise than under that Act, accounts audited in a manner acceptable to the Authority.
(3)
If the auditor of the accounts of a licensee for any financial year is different from the auditor of those accounts for the preceding financial year, the Authority may require the licensee to provide an explanation of the change together (if so required) with a statement by the former auditor or his representative of the circumstances of the change; and if such an explanation or statement is not produced, the licensee shall be regarded as having failed to comply with subsection (1).
Incorporating amendments until S 1/2016
(Cleancopy) NANI/Bb_as of 08.05.2019
NOTE: Amendment on P1S1 and P45S2 [24.04.2019]; P3S1, P1S2, P10S2, P11S2, P16S2-P18S2P28S2, P31S2, P34S2, P35S2, P39S2,
27
BLUV as at 14th January 2016
Communications to the Authority by auditors.