Singapore Armed Forces (SAVER-Premium Fund) (Amendment No. 3) Regulations 2004

No. S 725

Singapore Armed Forces Act

(Chapter 295)

Singapore Armed Forces (Saver-premium Fund) (Amendment No. 3) Regulations 2004

In exercise of the powers conferred by section 205C of the Singapore Armed Forces Act, the Armed Forces Council hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Singapore Armed Forces (SAVER-Premium Fund) (Amendment No. 3) Regulations 2004 and shall come into operation on 31st December 2004.

Amendment of regulation 2

2. Regulation 2 of the Singapore Armed Forces (SAVER-Premium Fund) Regulations (Rg 18) (referred to in these Regulations as the principal Regulations) is amended by inserting, immediately before the definition of “Board”, the following definition:

“ “auditor” means the auditor of the SAVER-Premium Fund, whose functions and duties shall be discharged, and whose powers shall be exercised, by —

(a)	the Auditor-General; or
(b)	such other auditor as may be appointed annually by the Minister in consultation with the Auditor-General under section 205C(5) of the Act;”.

Deletion and substitution of regulation 19

3. Regulation 19 of the principal Regulations is deleted and the following regulation substituted therefor:

“Audit

19. The Board shall, as soon as practicable after the close of each financial year, prepare and submit the financial statements in respect of that year —

(a)	to the auditor, who shall audit and report on them; and
(b)	where the Auditor-General is not the auditor, to the Auditor-General.”.

Amendment of regulation 20

4. Regulation 20 of the principal Regulations is amended —

(a)

by deleting the word “Auditor-General” in paragraphs (1) (1st line) and (2) and substituting in each case the word “auditor”;

(b)

by inserting, immediately after paragraph (2), the following paragraph:

“(3) Where the Auditor-General is not the auditor, the auditor shall, at the same time that he submits any report to the Minister under paragraph (2), forward a copy of the report to the Auditor-General.”; and

(c)

by deleting the word “Auditor” in the regulation heading and substituting the word “auditor”.

Deletion and substitution of regulation 21

5. Regulation 21 of the principal Regulations is deleted and the following regulation substituted therefor:

“Powers of Auditor-General and auditor

21.—(1) The Auditor-General and, where the Auditor-General is not the auditor, the auditor shall be 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 Board.

(2) The Auditor-General and, where the Auditor-General is not the auditor, the auditor may make copies of or extracts from any such accounting and other records.

(3) The Auditor-General may require any person to furnish him with any information relating, directly or indirectly, to the SAVER-Premium Fund —

(a)	which is in the possession of that person; or
(b)	to which that person has access,

as the Auditor-General considers necessary for the purposes of the functions of the auditor under the Act or these Regulations or the functions of the Auditor-General.

(4) Any person who fails, without any reasonable cause, to comply with any requirement of the Auditor-General under paragraph (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.”.

[G.N. Nos. S 192/2004; S 710/2004]

Made this 1st day of November 2004.

LEE YUEN HEE

Secretary,
Armed Forces Council,
Singapore.

[MINDEF 4-4/26-5-1/LT; AG/LEG/SL/295/2002/1 Vol. 3]

(To be presented to Parliament under section 207 of the Singapore Armed Forces Act).

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