Maintenance Act, 1998
R 385
Banks Act, 1990 (Act No. 94 of 1990)NoticesDesignation of an Activity not Falling within the meaning of "The Business of a Bank"Exemption Notice relating to Securitisation Schemes15. Appointment of auditor |
| 1) | Conditions relating to the appointment of an auditor |
| a) | The board of directors or the trustee, as the case may be, of a special-purpose institution established for purposes of a traditional or synthetic securitisation scheme shall appoint an auditor, who, in addition to his or her normal duties as auditor, shall be required- |
| i) | to satisfy himself or herself that, on the basis of the information presented to him or her by the special-purpose institution, there shall be compliance with the relevant provisions of this Schedule with regard to the conduct of the traditional or synthetic securitisation scheme; and |
| ii) | if such an auditor has so satisfied himself or herself, to furnish a statement to that effect, which statement shall be included in the disclosure document issued by the special-purpose institution with regard to the traditional or synthetic securitisation scheme, in accordance with the provisions of paragraph 16 of this Schedule. |
