Singapore legislation
Section 51
Section 51
Treasurer to render accounts
(1)
Every treasurer of a registered trade union and every other officer thereof who is responsible for the accounts of the trade union or for the collection, disbursement, custody or control of the funds or moneys thereof, shall, upon resigning or vacating his office and at least once in every year at such time as may be specified by the rules of the trade union and at any other times at which he may be required to do so by a resolution of the members of the trade union or by the rules thereof, render to the trade union and its members a just and true account of —
all moneys received and paid by him during the period which has elapsed since the date of his assuming office, or if he has previously rendered an account, since the last date upon which he rendered such account;
the balance remaining in his hands, at the time of rendering such account; and
all bonds, securities, or other property of the trade union entrusted to his custody or under his control.
(2)
The form of account may be prescribed by regulations.
(3)
The account shall be verified by statutory declaration, and the trade union shall cause the account to be audited by some fit and proper person approved by the Registrar.
(4)
No trade union shall cause the accounts to be audited under subsection (3) by the same person for a continuous period of more than 5 years without the prior written approval of the Minister.
(5)
After the account has been audited, the treasurer or other officer referred to in subsection (1) shall immediately hand over to the trustees of the trade union, if required by them to do so, such balance as appears to be due from him, and also, if so required, all bonds, securities, effects, books, papers and property of the trade union in his hands or custody, or otherwise under his control.
(6)
The Registrar may by notice in writing direct the attendance before him, at the place and time set out in the notice, of any person appointed to audit the accounts of a trade union for any purpose related to the audit.
(7)
The Registrar may, if he thinks it necessary, by notice in writing direct any trade union to —
cause the accounts to be audited by any person other than the person who first audited the accounts; or
cause the accounts to be further audited in such manner as the Registrar may require.
(8)
All expenses incurred by a trade union in complying with the direction of the Registrar shall be borne by the trade union.
(9)
Any person who fails to comply with the direction of the Registrar under subsection (6) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000 or to imprisonment for a term not exceeding 6 months or to both.
(10)
Any trade union which fails to comply with the direction of the Registrar under subsection (7) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.