Singapore legislation
Clause 31
Clause 31
Duties of approved providers
(1)
Every approved provider shall —
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 or any regulations made thereunder;
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 such other duties as may be prescribed.
(2)
Every approved provider shall, 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 shall not, in purported compliance with this section, make a record that is false or misleading in a material particular.
(5)
Any 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.