Clause 175

The auditor of a borrowing corporation shall within seven days after furnishing the corporation with any balance-sheet or profit and loss account or any report, certificate or other document which he is required by this Act or by the debentures or trust deed to give to the corporation, send by post to every trustee for the holders of debentures of the borrowing corporation a copy thereof.[Aust.s. 167A.]

Where in the performance of his duties as auditor of a borrowing corporation the auditor becomes aware of any matter which is in his opinion relevant to the exercise and performance of the powers and duties imposed by this Act or by any trust deed upon any trustee for the holders of debentures of the corporation he shall within seven days after so becoming aware of the matter send by post a report in writing on such matter to the borrowing corporation and a copy thereof to the trustee.

If any person fails to comply with the provisions of subsection (2) of this section he shall be guilty of an offence under this Act and shall be liable on conviction to a fine not exceeding two hundred and fifty dollars and also to a default penalty.