177. Responsibilities of auditor in certain situations

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Where, in the performance of his duties as auditor for a holder of a capital markets services licence, an auditor becomes aware -

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(aJ of any matter which in his opinion may constitute a contravention of any provision of this Order, or an offence involving fraud or dishonesty;

(bf of any irregularity that may have a material effect upon the accounts or position of the holder of a capital markets services licence, including any irregularity that put at risk or may put at risk the moneys or other assets of any client of the holder of a capital markets services licence;

(cJ that losses have been incurred by the holder of a capital markets services licence which renders him to be unable to meet the minimum financial requirements as may be prescribed in the regulations made under this Order;

(dJ that the auditor is unable to confirm that claims of clients or creditors of the holder of a capital markets services licence are covered by the assets of that holder;

(eJ that a breach in connection with the business of the holder of a capital markets services licence has been committed; or

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in the case of a holder of a capital markets services licence, that there has been a possible breach of the regulations of a licensed, recognised or designated securities exchange, a licensed, recognised or designated clearing house or a central securities depository, the auditor shall immediately report the matter to the Authority and where relevant the licensed, recognised or designated securities exchange, the licensed, recognised or designated clearing house or the central securities depository.