Singapore legislation

Regulation 100

Disposal of written-off assets

Subregulation 1

All written-off assets, if to be sold, shall be disposed of by public auction or by tender after public advertisement.

If such assets are unsuitable for sale, they shall be disposed of as directed by the chairman.

Where written-off assets are to be destroyed, a certificate of destruction is to be completed and copies forwarded to the auditor.

An officer appointed by the secretary shall witness the destruction.

The officer appointed under paragraph (4) shall not be the same officer recommending the write-off or the user of the assets.