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(1) Where an auditor, in the performance of his duties as auditor of a dealer, becomes aware of a prescribed matter, he shall, within 7 days after becoming aware of that matter, lodge with the Commission a written report on the matter and send a copy of the report to the dealer and to each stock exchange of which the dealer is a member.

(2) In this section "prescribed matter" means a matter which, in the opinion of the auditor-

(a) has adversely affected, is adversely affecting or may adversely affect the ability of the dealer to meet his obligations as a dealer;

(b) constitutes or may constitute a breach of section 83, 84, 85 or 86 or Part IX of this Law; or

(c) constitutes or may constitute a breach of a condition of a licence issued to the dealer under this Law.