30. Power of auditors appointed by Authority
Feedback & supportAn auditor appointed under section 29 to examine and audit the books, accounts and records of a futures broker may, for the purpose of carrying out the examination and audit —
auditor
“auditor” means an approved company auditor as defined in section 4 of the Companies Act;
examine on oath any of the futures broker’s directors, employees and agents and any other auditor appointed under this Act in relation to those books, accounts and records;
require any of the futures broker’s directors, employees and agents to produce any books, accounts and records held by or on behalf of the futures broker relating to his business and make copies of or take extracts from or retain possession of the books, accounts and records for such period as is necessary to enable them to be inspected;
require an auditor appointed by the futures broker to produce any books, accounts and records held by him relating to the business of the futures broker;
require a Futures Exchange or a clearing house to produce any books, accounts and records kept by it relating to the business of the futures broker;
require a Futures Exchange or a clearing house to provide any information in its possession relating to the business of the futures broker;
employ such persons as he considers necessary to assist him to carry out the examination and audit; and
by instrument in writing under his hand, authorise any person employed by him to do, in relation to the examination and audit, any act or thing that he could do himself as an auditor, except the examination of any person on oath, under this subsection.
Any person who, without reasonable excuse, refuses or fails to answer any question put to him, or fails to comply with any request made to him, by an auditor appointed under section 29, or a person authorised under subsection (1)(g), shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding one year or to both.
If a Futures Exchange or a clearing house fails, without reasonable excuse, to comply with any request made to it by an auditor appointed under section 29, or a person authorised under subsection (1)(g), the Exchange or the clearing house shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $30,000.
Futures Exchange
“Exchange” or “Futures Exchange” means —(a)the Singapore International Monetary Exchange Ltd.; or(b)a body corporate —(i)that provides or proposes to provide the physical facilities necessary for trading in futures contracts; and(ii)that maintains or proposes to maintain a futures market that is approved by the Authority under section 4;