Singapore legislation
Clause 11
Clause 11
Accounts to be kept
(1)
The Board shall —
(a)
cause to be kept proper accounts and records of all transactions and affairs relating to the Fund;
(b)
do all things necessary to ensure that payments out of the Fund are correctly made and properly authorised; and
(c)
ensure that adequate control is maintained over the assets and receipts of the Fund.
(2)
The Board shall appoint a public officer to be an accounting officer of the Fund with responsibility for keeping proper accounts and records in relation thereto, and preparing and signing a statement of the Fund’s accounts in respect of each financial year.