Singapore legislation
Regulation 16A
Regulation 16A
Duty to keep accounts and records, etc.
Subregulation 1
Every registered trade union shall —
keep proper accounts and records of its transactions and affairs, which shall include a cash book, a journal and a general ledger with respect to its transactions, assets and liabilities;
establish and maintain a system of control to ensure that all payments out of its moneys are correctly made and properly authorised and that adequate control is maintained over the assets of, or in the custody of, the registered trade union and over the expenditure incurred by it; and
keep all books of account and their source documents for a period of not less than 5 years.
Subregulation 2
The accounts and records kept by a registered trade union under paragraph (1) shall include such accounts and records as are necessary to show a true and fair view of the state of affairs of the registered trade union and to explain its transactions.
Subregulation 3
Notwithstanding paragraphs (1) and (2), the Registrar may, if he thinks it necessary, by notice in writing require any registered trade union to maintain such other accounts and records as may be specified in the notice.