Singapore legislation
Clause 180
Clause 180
Accounts of fund
(1)
A securities exchange or futures exchange shall establish and keep proper accounts of its fidelity fund and shall, within 5 months from the last day of each financial year of that exchange, cause a balance-sheet in respect of such accounts to be made out as at the last day of that financial year.
(2)
The securities exchange or futures exchange shall appoint an auditor to audit the accounts of the fidelity fund.
(3)
The auditor appointed by the securities exchange or futures exchange shall —
(a)
regularly and fully audit the accounts of the fidelity fund; and
(b)
audit each balance-sheet and cause it to be laid before the exchange not later than 3 months after the balance-sheet was made out.