Section 80: Auditor to be appointed

1) A securities business person shall appoint an auditor from amongst the auditors enlisted by the Board.

2) Any director, shareholder, officer, employee or partner of a securities business company or body shall be deemed disqualified to be appointed as the auditor of that securities business company or body.

3) A securities business person shall give information indicating the name and address also of the auditor appointed by it to the Board within seven days from the date of such appointment.

4) If a securities business person removes any auditor from office or such an auditor resigns from office, the securities business person shall give information thereof to the Board within seven days from the date of such removal.

5) Notwithstanding anything contained elsewhere in this Act, no employee of a stock exchange shall be eligible to be appointed as an auditor of any securities business company or body.