Singapore legislation
Section 31
Section 31
Duties of approved providers
(1)
Every approved provider must —
keep records (whether in written or electronic form) that enable —
claims for payments of subvention to be properly verified; and
proper assessments to be made whether the approved provider has complied, or is complying, with the conditions of any subvention paid to it and with its duties under this Act;
in relation to each of those records, retain the record for a period ending 3 years (or such other period as an authorised officer may allow) after the close of the financial year in which the record was made; and
comply with any other duties that may be prescribed.
(2)
Every approved provider must, as soon as practicable after the close of each financial year, cause to be prepared and submitted audited annual financial statements in respect of that year to the Minister or an authorised officer designated by the Minister.
(3)
An approved provider who fails to comply with subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.
(4)
An approved provider must not, in purported compliance with this section, make a record that is false or misleading in a material particular.
(5)
An approved provider who contravenes or fails to comply with subsection (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $3,000.