PART XII
FINANCIAL AND AUDIT PROVISIONS
74. The financial provisions set out in the Sixth Schedule shall have effect with respect to all moneys in the DI Fund, the PPF Life Fund and the PPF General Fund, respectively.
75. The financial provisions set out in the Seventh Schedule shall have effect with respect to the Agency.
76. The Agency 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 Agency during the preceding financial year and containing such information relating to the proceedings and policy of the Agency as the Minister may, from time to time, direct.
77.
—(1) The Agency shall, in every financial year, prepare or cause to be prepared annual estimates of income and expenditure of the DI Fund, the PPF Life Fund, the PPF General Fund and the Agency for the ensuing financial year and a supplementary estimate for any financial year.
(2) All annual estimates and supplementary estimates shall be presented to the Minister for his approval.
78. If the auditor in the course of the performance of his duties as an auditor of the Agency or the DI Fund, PPF Life Fund or PPF General Fund is satisfied that —
(a)
there has been a serious contravention of any provisions of this Act or the Companies Act (Cap. 50) or that an offence involving fraud or dishonesty has been committed; or
(b)
serious irregularities have occurred, including irregularities that jeopardise the interests of insured depositors or insured policy owners,
the auditor shall immediately report the matter in writing to the Minister.