Singapore legislation
Regulation 11
Regulation 11
Power of Council to require production of books of account, etc.
Subregulation 1
In order to ascertain whether these Rules have been complied with, the Council acting —
on its own motion; or
on a written complaint lodged with it by a third party,may require any solicitor-trustee to produce at a time and place to be fixed by the Council, all books of account, bank pass books, loose-leaf bank statements, statements of account, vouchers and documents relating to all or any of the trusts of which he is the solicitor-trustee for the inspection of any person appointed by the Council, and that person shall prepare for the information of the Council a report on the result of such inspection.
Subregulation 2
Such report may be used as a basis for proceedings under the Act.
Subregulation 3
Upon being required to do so, a solicitor-trustee shall produce such books of account, bank pass books, loose-leaf bank statements, statements of account, vouchers and documents at the time and place fixed.
Subregulation 4
Before making any appointment under paragraph (1), the Council shall consider any objection made by any such solicitor-trustee to the appointment of a particular person on personal or other proper grounds.
Subregulation 5
Before instituting an inspection on a written complaint lodged with it by any person, the Council —
shall require prima facie evidence that a ground of complaint exists; and
may require the payment by that person to the Council of a reasonable sum to be fixed by it to cover the costs of the inspection, and the costs of the solicitor-trustee against whom the complaint is made.
Subregulation 6
The Council may deal with any sum so paid in such manner as it thinks fit.
Subregulation 7
In this rule, “bank pass book” and “bank statement” mean, respectively, a pass book and a statement issued by a bank in respect of any client account maintained at such bank, and includes a pass book and a statement issued by an approved finance company in respect of a client account maintained at such finance company.