Singapore legislation
Regulation 12
Regulation 12
Certificate of auditor
An auditor shall certify in the annual balance-sheet and accounts of the licensed housing developer whether —
(a)
all instalments of purchase money referred to in rule 3 and all loans for the construction of the building project referred to in rule 4 have been deposited into the Project Account in accordance with these Rules; and
(b)
the moneys in the Project Account have been withdrawn in accordance with these Rules.