5. The principal Act is amended by inserting, immediately after section 12, the following sections: —“Singapore Polytechnic Students’ Union |
13.—(1) There shall be a students’ association to be known as the Singapore Polytechnic Students’ Union which shall be constituted by regulations made under subsection (1) of section 21 of this Act and shall consist of such constituent bodies as may be prescribed by those regulations.(2) The constitution, membership, functions and other matters relating to the Singapore Polytechnic Students’ Union and each of its constituent bodies shall be so prescribed. |
(3) The Board may impose and collect from the students or any class thereof such fees as it may determine for the benefit of the Singapore Polytechnic Students’ Union and its constituent bodies; and such fees may be applied in such manner as the Board thinks fit for the purposes of the Union and its constituent bodies. |
(4) Until such day as the Singapore Polytechnic Students’ Union is constituted by regulations made under subsection (1) of section 21 of this Act (hereinafter in this section referred to as the new Union) there shall continue to exist the Singapore Polytechnic Students’ Union as constituted before the commencement of the Singapore Polytechnic (Amendment) Act, 1979 (hereinafter in this section referred to as the old Union); but on that day the old Union shall be deemed to be dissolved and all its property, assets, rights, liabilities and obligations of every description shall be deemed to vest without any further assurance in the new Union. |
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Application of the Societies Act to the Students’ Union |
14.—(1) Notwithstanding anything to the contrary in the Societies Act (Cap. 262), the provisions of that Act shall apply to the Singapore Polytechnic Students’ Union and its constituent bodies constituted by regulations made under subsection (1) of section 21 of this Act.(2) The Minister charged with responsibility for societies may, by order published in the Gazette, exempt the Singapore Polytechnic Students’ Union and any of its constituent bodies from all or any of the provisions of the Societies Act subject to such conditions as may be specified in the order. |
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Polytechnic’s financial year |
15. The financial year of the Polytechnic shall begin on the 1st day of April of each year and end on the 31st day of March of the succeeding year. |
Accounts and financial statements |
16.—(1) The Board shall keep proper accounts and records of the transactions and affairs of the Polytechnic and shall do all things necessary to ensure that all payments out of the moneys of the Polytechnic are correctly made and properly authorised and that adequate control is maintained over the assets of, or in the custody of, the Polytechnic and over the expenditure incurred by the Polytechnic.(2) The Board shall, as soon as practicable after the close of each financial year, prepare and submit financial statements in respect of that year to the auditor of the Polytechnic. |
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17.—(1) The accounts of the Polytechnic shall be audited by the Auditor-General or such other auditor as may be appointed annually by the Minister in consultation with the Auditor-General.(2) A person shall not be qualified for appointment as an auditor under subsection (1) of this section unless he is an approved company auditor under the Companies Act (Cap. 185). |
(3) The auditor or any person authorised by him is entitled at all reasonable times to full and free access to all accounting and other records relating directly or indirectly to the financial transactions of the Polytechnic. |
(4) The auditor shall in his report state —(a) | whether the financial statements show fairly the financial transactions and the state of affairs of the Polytechnic; | (b) | whether proper accounting and other records have been kept, including records of all assets of the Polytechnic whether purchased, donated or otherwise; | (c) | whether the receipts, expenditure, and investment of moneys and the acquisition and disposal of assets by the Polytechnic during the financial year were in accordance with the provisions of this Act; and | (d) | such other matters arising from the audit as he considers necessary. |
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Failure to furnish information to auditor |
18.—(1) The auditor may require any person to furnish him with such information in the possession of that person or to which that person has access as the auditor considers necessary for the purposes of his functions under this Act.(2) Any person who fails without reasonable excuse to comply with any requirement of the auditor under subsection (1) of this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding one thousand dollars. |
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Presentation of financial statements and auditor’s report to Parliament |
19.—(1) The Board shall, as soon as the accounts of the Polytechnic and the financial statements have been audited in accordance with the provisions of this Act, send to the Minister a copy of the audited financial statements, signed by the Chairman, together with a copy of the auditor’s report.(2) Where the Auditor-General is not the auditor of the Polytechnic, a copy of the audited financial statements and any report made by the auditor shall be forwarded to the Auditor-General when they are submitted to the Board. |
(3) The Minister shall as soon as practicable cause a copy of the audited financial statements and of the auditor’s report referred to in subsection (1) of this section to be presented to Parliament. |
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20.—(1) The Board shall, as soon as practicable after the end of each financial year, cause to be prepared and transmitted to the Minister a report dealing generally with the activities of the Polytechnic during the preceding financial year and containing such information relating to the proceedings and policy of the Polytechnic as the Minister may, from time to time, direct.(2) The Minister shall as soon as practicable cause a copy of every such annual report to be presented to Parliament. |
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21.—(1) The Board may, with the approval of the Minister, make regulations for any of the following matters: —(a) | the preparation, audit and submission to the Minister of estimates, budgets, statements and returns; | (b) | the membership and functions of the Board of Studies; | (c) | the conditions of transfer to the Polytechnic of pensionable officers in the public service; | (d) | the appointment, promotion, conduct, disciplinary control, dismissal and termination of service of the academic and administrative staff of the Polytechnic; | (e) | the conduct and disciplinary control of students; | (f) | any other matters which by this Act are required or may be prescribed. |
(2) All regulations made under this section shall be published in the Gazette.”. |
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