Section 22

Except with the leave of the Court such an investigation or audit shall not be required within twelve months after any previous investigation or audit, and a trustee or beneficiary shall not be appointed under this section to make an investigation or audit.

The person making the investigation or audit (hereinafter called the auditor) shall have a right of access to the books, accounts, and vouchers of the trustees and to any securities and documents of title held by them on account of the trust, and may require from them such information and explanation as may be necessary for the performance of his duties.

Upon the completion of the investigation and audit such person shall forward to the applicant and to every trustee a copy of the accounts, together with a report thereon, and a certificate signed by him to the effect that the accounts exhibit a true view of the state of the affairs of the trust and that he has had the securities of the trust fund investments produced to and verified by him or (as the case may be) that such accounts are deficient in such respects as may be specified in such certificate.

Every beneficiary under the trust shall, subject to rules under this Act, be entitled at all reasonable times to inspect and take copies of the accounts, report, and certificate and, at his own expense, to be furnished with copies thereof or extracts therefrom.

In the event of the Public Trustee so directing, he may order that such expenses be borne by the applicant or by the trustees personally or partly by them and partly by the applicant.

The auditor may be removed by order of the Court, and, if any auditor is removed or resigns or dies or becomes bankrupt or incapable of acting before the investigation and audit is completed, a new auditor may be appointed in his place in like manner as the original auditor.

If any person having the custody of any documents to which the auditor has a right of access under this section fails or refuses to allow him to have access thereto or in anywise obstructs the investigation or audit, the auditor may apply to the Court, and thereupon the Court shall make such order as it thinks fit.

The remuneration of the auditor and the other expenses of the investigation and audit shall be such as may be prescribed by rules under this Act and shall, unless the Public Trustee otherwise directs, be borne by the estate.

Any person who in any statement of accounts, report, or certificate required for the purposes of this section wilfully makes a statement false in any material particular shall be liable to imprisonment of either description for a term not exceeding two years or to a fine not exceeding two thousand ringgit or to both.

RULES