Singapore legislation
Clause 26
Clause 26
Report of auditor to be forwarded to Minister in certain cases
(1)
If after consideration of an auditor’s report furnished under section 25 of this Act, a relevant authority is not satisfied —
that the financial position of the dealer in respect of whom the report is made is such as to enable him to meet all his commitments as a dealer; and
that the dealer has complied with the requirements of this Act,the relevant authority shall, and for any other reason which the authority thinks proper it may, forward the said report to the Minister with any further report thereon which it thinks proper to make.
(2)
It shall be a defence to any proceedings in defamation in respect of any statement made in any such report of an auditor or in any such further report of a relevant authority if the defendant satisfies the court that the statement was made bona fide and without malice.