Singapore legislation
Regulation 97
Regulation 97
Authority to sell, dispose, write-off assets
Subregulation 1
Subject to rule 102, the authority of a Town Council is required for the deletion of items of stock from inventories of plant, machinery, fixtures, etc., in the event of their ceasing to be in stock.
Subregulation 2
Where such items were disposed of by sale duly authorised by the Town Council, they shall be deleted without obtaining such special authority.