Singapore legislation
Clause 27
Clause 27
Power of Minister to appoint independent auditor
(1)
Where the Minister has received —
a report under subsection (3) of section 24 of this Act from a relevant authority; or
an auditor’s report forwarded to him pursuant to section 26 of this Act by a relevant authority,he may, if he is satisfied that it is in the interests of the dealer concerned, the dealer’s clients or the public generally to do so, appoint in writing an independent auditor to examine, audit and report either generally or in relation to any particular matter upon the books, accounts and records of and securities held by the dealer.
(2)
Where the Minister is of opinion that the whole or any part of the costs and expenses of an auditor appointed by him under this section should be borne by the dealer or relevant authority concerned, he may, by order in writing, direct such dealer or relevant authority to pay a specified amount, being the whole or part of such costs and expenses, within the time and in the manner specified.
(3)
Where a dealer or relevant authority has failed to comply with an order of the Minister under subsection (2) of this section proceedings may be taken by the Minister in any court of competent jurisdiction to recover the amount in question as a civil debt recoverable summarily.