Intellectual Property Rights from Publicly Financed Research and
R 385
National Gambling Act, 2004 (Act No. 7 of 2004)RegulationsNational Gambling Regulations, 2004Chapter 3 : Jurisdiction32. Accountability, audits and reports |
| 1) | The holder of a national licence, other than an employment licence, must, in accordance with generally accepted accounting practices, standards or principles- |
| a) | keep such records as the provincial licensing authority which issued the licence may require; |
| b) | at the end of each financial year prepare financial statements; and |
| c) | appoint a person registered as an accountant or auditor in terms of section 15 of the Public Accountants' and Auditors' Act, 1991 (Act 80 of 1991), to audit its financial statements. |
| 2) | The auditor contemplated in sub-regulation (1)(c) shall not be appointed for a period longer than 5 years, and such appointment shall not be renewable within a period of 10 years after the expiration of the initial period of appointment. |
