Plain language law

New Zealand law explained for everyone

Residential Tenancies Act 1986

Administration - Residential Tenancies Trust Account

128: Auditor-General to be auditor of Residential Tenancies Trust Account

You could also call this:

“The government's top money-checker looks after the special bank account for rented homes.”

The Residential Tenancies Trust Account is considered a public entity under the Public Audit Act 2001. This means that the Auditor-General, who is responsible for auditing public entities, will be the auditor for this account.

In addition to the Auditor-General’s role, the chief executive can appoint another person or company to be an extra auditor for the Residential Tenancies Trust Account. However, before doing this, the chief executive must talk to the Auditor-General first. The person or company chosen as the extra auditor must have the right qualifications to do the job.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM95988.

Topics:
Housing and property > Renting
Government and voting > Government departments
Money and consumer rights > Banking and loans
Previous

127: Residential Tenancies Trust Account, or

“A special bank account that holds money from tenants' bonds and other rental payments”

Next

129: Part B of the Fund, or

“A part of the fund that used to exist but doesn't anymore”

Part 4 Administration
Residential Tenancies Trust Account

128Auditor-General to be auditor of Residential Tenancies Trust Account

  1. The Residential Tenancies Trust Account is to be treated as a public entity as defined in section 4 of the Public Audit Act 2001 and, in accordance with that Act, the Auditor-General is its auditor.

  2. Without limiting subsection (1), the chief executive may, after consultation with the Auditor-General, appoint a person or firm that is qualified for appointment as an auditor to be an additional auditor of the Residential Tenancies Trust Account.

Notes
  • Section 128: replaced, on , by section 53 of the Public Audit Act 2001 (2001 No 10).