Bus Services Industry Act 2015 · 2020 Revised Edition · Part 6 · Enforcement and Monitoring Compliance
34. Accounts and statements
Feedback & supportSubject to subsection (4), a public bus operator holding a Class 1 bus service licence must —
public bus operator
“public bus operator” means a bus operator who is party to a public bus services contract for the provision of bus services specified in the contract;
in respect of the whole or part (as the case may be) of every financial year, prepare such accounts and statements as are specified in, or ascertained in accordance with, the regulations;
retain the accounts and statements prepared in accordance with paragraph (a) for 5 years after the end of the period to which they relate;
within the prescribed period after the accounting period, give the LTA those accounts and statements duly audited by an auditor approved by the LTA; and
keep and retain records, where the records are relevant to the preparation of the accounts and statements of the licensee mentioned in paragraph (a), for the period and in the manner prescribed in the regulations.
A public bus operator holding a Class 1 bus service licence must not prepare any accounts or statements in such a way that they do not correctly record and explain the matters or things to which they relate.
Class 1 bus service licence
“Class 1 bus service licence” means a bus service licence authorising the operation of 10 or more regular route services specified in the licence;
A person —
who is subject to any requirement under subsection (1) or (2); and
who contravenes that requirement,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.
The LTA may on application waive any requirement under subsection (1) in any particular case.
LTA
“LTA” means the Land Transport Authority of Singapore constituted under the Land Transport Authority of Singapore Act 1995;