Singapore legislation
Clause 33
Clause 33
Repeal and re-enactment of section 130 and new sections 131 and 132
(1)
Section 130 of the principal Act is repealed and the following sections substituted therefor:“Financial year of Fund
130. The financial year of the Fund begins on 1 April of each year and ends on 31 March of the succeeding year.Audit
131. The accounts of the Fund are to be audited by the Auditor‑General or such other auditor as may be appointed annually by the Minister in consultation with the Auditor‑General.Preparation and publication of financial statements and annual report of Fund132.—
The Authority must, within 6 months from the close of the financial year of the Fund, send to the Minister —
a copy of the audited financial statements of the Fund, together with a copy of the auditor’s report; and
a report on the activities concerning the Fund during that financial year.(2) The Authority must publish the audited financial statements and the auditor’s report mentioned in subsection (1)(a) in the Gazette.(3) The Authority must publish the report mentioned in subsection (1)(b) in such manner as the Authority may determine.(4) The Minister must, within 6 months from the close of the financial year of the Fund, cause a copy of the audited financial statements and a copy of the auditor’s report mentioned in subsection (1)(a), and a copy of the report mentioned in subsection (1)(b), to be presented to Parliament.”.
(2)
Subsection (1) applies with effect from the financial year of the Fund on 1 April 2017, and every subsequent financial year of the Fund.