Singapore legislation
Clause 30
Clause 30
Amendment of Second Schedule
The Second Schedule to the principal Act is amended —
by inserting, immediately after the words “financial statements” in paragraph 2, the words “in respect of a mosque”;
by deleting paragraphs 3 and 4 and substituting the following paragraphs:“3. The financial statements in respect of a trust, wakaf or nazar shall, as soon as possible after the close of each financial year but not later than 3 months after the close of the financial year, be submitted to a meeting of the Majlis.
4. Subject to paragraph 4A, the financial statements shall, before their submission to the Majlis under paragraph 2 or 3, be audited by an auditor to be appointed by the Majlis and approved by the Minister.4A. The Minister may, in his discretion, exempt any trustee, mutawalli or management board of any trust, wakaf, nazar or mosque to which this Schedule applies, or any class thereof, from paragraph 4 by notice in writing subject to such terms or conditions as the Minister may think fit to impose.4B. An exemption under paragraph 4A need not be published in the Gazette, and may be withdrawn at any time by the Minister by notice in writing.4C. A person shall not be qualified for appointment as an auditor under paragraph 4 unless he is a public accountant who is registered or deemed to be registered under the Accountants Act (Cap. 2).”; and
by deleting the words “paragraph 2, submit a copy of the audited financial statements, together with a copy of the auditor’s report,” in paragraph 10 and substituting the words “paragraph 2 or 3, submit a copy of the financial statements, together with a copy of the auditor’s report (where applicable),”.