Singapore legislation
Regulation 5
Regulation 5
Owner to furnish statement of gross receipts
Subregulation 1
The Singapore MRT Ltd shall furnish to the Chief Assessor by the end of June of each year a statement certified by a person qualified for registration as an accountant under the Accountants Act (Cap. 2A) and showing for the preceding year the gross receipts from the operation of the MRT System.
Subregulation 2
The Chief Assessor may at any time serve on any person a notice requiring him to furnish within 21 days from the date of notice the total gross receipts referred to in sub-paragraph (d) of the definition of “gross receipts” in paragraph 2.
Subregulation 3
Any person who fails to comply with sub-paragraph (1) or (2) without reasonable excuse shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.