Singapore legislation
Regulation 26
of Charities (Fund-raising Appeals for Local and Foreign Charitable Purposes) Regulations 2012
Regulation 26
Maintenance of records
Subregulation 1
Every permit holder shall keep, or cause to be kept, proper accounts and other records in respect of the fund-raising appeal and shall do all things necessary to ensure that all payments out of the proceeds are correctly made and properly authorised.
Subregulation 2
All books of accounts shall be prepared and kept by the permit holder on a basis consistent and in accordance with generally accepted accounting principles, standards and practices.
Subregulation 3
Every permit holder shall maintain in respect of the fund‑raising appeal records as to —
the name of each person authorised to participate in the fund‑raising appeal;
the dates on which the fund-raising appeal commenced and concluded;
the gross proceeds received in response to the fund-raising appeal;
the net proceeds applied to the foreign charitable purpose for which the fund-raising appeal was conducted and the means by which they were distributed;
the amount of proceeds transmitted to any person outside Singapore and to whom it was so transmitted; and
the items of expenditure disbursed from the proceeds.
Subregulation 4
The records required to be maintained under this regulation shall be kept at all times at the address or the registered office or principal place of business of the permit holder.
Subregulation 5
Subject to paragraph (5A), a permit holder shall, within 60 days after the last day of the fund-raising appeal, or within such extended period as may be allowed by the Commissioner in any particular case, furnish to the Commissioner the statements of accounts relating to the fund-raising appeal audited by —
a public accountant; or
where the total amount of moneys collected is $10,000 or lower, an independent person who is reasonably believed by the governing board members to have the requisite ability and practical experience to carry out a competent examination of the accounts of the fund-raising appeal.
Subregulation 5A
A permit holder, being a registered charity or an exempt charity that is required to transmit to the Commissioner an annual report under section 14(2) of the Act, must do either of the following: (a)with the Commissioner’s written approval, furnish to the Commissioner the statements of accounts relating to the fund‑raising appeal, within the financial statements audited by a public accountant set out in the annual report for the financial year in which the fund‑raising appeal was conducted;
furnish to the Commissioner the statements of accounts relating to the fund‑raising appeal under paragraph (5).
Subregulation 6
Any permit holder who fails to —
maintain any records which the permit holder is by this regulation required to maintain;
keep those records at the address at which the permit holder is required by this regulation to keep them; or
furnish the statements of accounts as required by paragraph (5) or (5A), as the case may be,shall be guilty of an offence.
Subregulation 7
A permit holder who is guilty of an offence under paragraph (6) shall be liable on conviction —
to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 3 years or to both; and
in the case of a continuing offence, to a further fine not exceeding $100 for every day or part of a day during which the offence continues after conviction.