Regulation 102
Authority for write-off or deletion of assets where no negligence or fraud is involved
of Town Councils Financial Rules
Subsidiary LegislationIn forceProvision 15 of 121
Regulation 102
Subregulation 1
Where no negligence or fraud is involved, the following officers may dispense with the proceedings of a Survey Committee and give directions for write-off:
(a)
not exceeding $1,000—Officer or Committee authorised by the chairman(b)not exceeding $3,000—Chairman(c)exceeding $3,000—Town Council.
Subregulation 2
Such authority for write-off shall apply when the assets are recommended for the write-off because of one of the following reasons:
(a)
unserviceable;
(b)
obsolete;
(c)
uneconomical to repair; or
(d)
redundant.
Subregulation 3
In the case of assets written-off in accordance with this rule, a report shall be submitted to the auditor showing the action taken in each case.