Singapore legislation
Regulation 51
Regulation 51
Proper accounts and reconciliation
Subregulation 1
The secretary shall ensure that proper accounts are kept of all loans given, showing the total amount of loans approved, the total loans outstanding and the balance in the provision for each of the revolving loan funds.
Subregulation 2
The secretary shall ensure that such control accounts are reconciled each month with the individual loan account kept under rule 50.