Singapore legislation
Section 9
Section 9
Access to accounts and summary of financial statements
(1)
The Minister or a person authorised by the Minister (called in this section an authorised person) is entitled, at all reasonable times, to full and free access to all accounting and other records relating, directly or indirectly, to the financial transactions of the university company.
(2)
The Minister or an authorised person may require any person to provide any information in that person’s possession, or to which that person has access, that the Minister or authorised person considers necessary for ascertaining —
whether moneys paid to the university company under section 8 were applied or expended in accordance with that section; and
any other matters that the Minister or authorised person requires.
(3)
The university company must make available to the public, at such frequency and in such manner as the Minister may determine, a summary of the financial statements of the university company which must be in such form and contain such information as the Minister may determine.
(4)
Any person who, without reasonable excuse, fails to comply with any requirement of the Minister or an authorised person under subsection (2), or who otherwise hinders, obstructs or delays the Minister or an authorised person in the performance of his or her duties or in the exercise of his or her powers under this section, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.