The Minister of Human Settlements has obtained approval from Parliament to issue Draft Regulations in terms of section 19 of the Sectional Titles Schemes Management Act, No 8 of 2011 inviting the public to comment on the Draft Regulations. Comments were invited until 2 November 2015.
Annexure 8 to the Regulations made under the Sectional Titles Act, No 95 of 1986 contained the requirement in section 40 that the body corporate shall appoint an auditor to hold office from the conclusion of that meeting until the conclusion of the next annual general meeting, provided that where a scheme comprised less than 10 units, an accounting officer may be appointed for that purpose and the auditor or accounting officer, as the case may be, must sign the financial statements.
The Draft Regulations state that the annual general meeting must appoint an auditor to audit the annual financial statements, unless all the sections in the scheme are registered in the name of one person.
Sectional Titles Schemes Management Regulations (1MB PDF)
Please visit the www.gazette.co.za page for access to a legal database