Singapore legislation

Regulation 20

of Presidential Elections (Certificate of Eligibility) Regulations 2017

Regulation 20

Evaluation of information submitted

Subregulation 1

The Committee may form its own view on the sufficiency and reliability of any information submitted by an applicant seeking to satisfy Article 19(4)(a), (b) or (c).

Subregulation 2

Without limiting regulations 5 and 6, if the Committee considers that the information submitted by an applicant is insufficient or insufficiently reliable, the Committee may —

(a)

request the applicant to provide further information; or

(b)

reject the application without going on to apply Article 19(4)(a), (b) or (c).

Subregulation 3

Without limiting paragraph (1), the Committee may consider the following factors when evaluating the financial statements of an entity:

(a)

the legal and regulatory requirements that apply in relation to the financial statements, including —

(i)

whether those requirements were complied with;

(ii)

any exemption granted under those requirements;

(iii)

any sanction (however named) imposed on the entity, its officers, the members of its governing body or any other person for any failure to comply with those requirements;

(b)

whether the financial statements were prepared according to any prevailing accepted accounting standards;

(c)

if the financial statements were not prepared according to any prevailing accepted accounting standards, the statements and reconciliation required by regulation 15(8)(a), (b) and (c);

(d)

whether the financial statements (including, where applicable, the statements and reconciliation required by regulation 15(8)(a), (b) and (c)) were audited;

(e)

if the financial statements (including, where applicable, the statements and reconciliation required by regulation 15(8)(a), (b) and (c)) were audited —

(i)

the opinion of the auditors, including whether the opinion is qualified;

(ii)

the legal or regulatory regime governing the performance of the audit;

(iii)

the legal or regulatory regime governing the auditors; and

(iv)

whether the auditors have been subject to any sanction (however named) under that regime, whether in relation to the financial statements or otherwise;

(f)

if the financial statements (including, where applicable, the statements and reconciliation required by regulation 15(8)(a), (b) and (c)) were not audited —

(i)

whether an audit could reasonably have been performed; and

(ii)

whether there is a review by auditors or any other assurance that the financial statements (or the statements and reconciliation required by regulation 15(8)(a), (b) and (c)) are reliable and fairly present the financial position and financial performance of the entity.

Read in full context — Presidential Elections (Certificate of Eligibility) Regulations 2017 →