Singapore legislation
Regulation 105
Regulation 105
Treatment of losses
Subregulation 1
Where there is no negligence or fault, the amount lost may be written-off on the following authority:
(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
If the loss is an asset other than cash, the item shall be deleted from the inventory after the appropriate approval has been obtained.