Singapore legislation
Clause 9
Clause 9
Access to accounts and summary of financial statements
(1)
The Minister or any person authorised by him 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 any person authorised by him may require any person to furnish him with such information in the possession of that person or to which that person has access as he considers necessary for ascertaining —
whether moneys paid to the university company under section 8 were applied or expended in accordance with that section; and
such other matters as he considers necessary.
(3)
The university company shall 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 shall be in such form and contain such information as the Minister may determine.
(4)
Any person who fails, without reasonable excuse, to comply with any requirement of the Minister or any person authorised by him under subsection (2) or who otherwise hinders, obstructs or delays the Minister or any person authorised by him in the performance of his duties or in the exercise of his powers under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.