PROVISIONS RELATING TO UNIVERSITY COMPANY
3. The function of the university company is to pursue, within the limits of the financial resources available to it, the objects provided by its constituent documents and, in particular, the university company may confer and award degrees, diplomas and certificates, including honorary degrees and other distinctions.
—(1) The university company shall comply with the accountability framework set out by way of any agreement in writing between the university company and the Minister or any person authorised by him.
(2) The university company shall evaluate the performance of its activities in accordance with such quality assurance framework as the Minister may determine.
(3) The university company shall participate in the evaluation of its activities by such external review panel as may be commissioned by the Minister from time to time.
—(1) The Minister may, in consultation with the university company, establish such policies on higher education in Singapore as the Minister thinks fit and may direct the university company to implement such policies.
(2) The university company shall comply with any direction given by the Minister under subsection (1).
—(1) The prior written consent of the Minister is required for —
the admission of any person as a member of the university company and the removal of any such member;
the disposal of the whole or substantially the whole of the university company’s undertaking or property;
the voluntary winding-up of the university company;
the addition, deletion or alteration of any provision of the constituent documents of the university company; and
the removal of any trustee from the Board.
(2) The requirements under subsection (1) shall apply in addition to the requirements prescribed by the Companies Act (Cap. 50) in respect of the matters referred to in paragraphs (a) to (e) of that subsection.
(3) Any act done or agreement made in contravention of subsection (1) shall have no effect and be unenforceable at law.
—(1) The Minister shall pay to the university company such moneys as may be provided by Parliament, from time to time, for the funding of the university company.
(2) All moneys paid to the university company under subsection (1) shall only be applied or expended by the university company for such of the objects provided by its constituent documents as the Minister may allow.
—(1) The Minister 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 university company.
(2) The Minister or any person authorised by him may require any person to furnish him with such information in the possession of that person or to which that person has access as he considers necessary for ascertaining —
whether moneys paid to the university company under section 8 were applied or expended in accordance with that section; and
such other matters as he considers necessary.
(3) The university company shall make available to the public, at such frequency and in such manner as the Minister may determine, a summary of the financial statements of the university company which shall be in such form and contain such information as the Minister may determine.
(4) Any person who fails, without reasonable excuse, to comply with any requirement of the Minister or any person authorised by him under subsection (2) or who otherwise hinders, obstructs or delays the Minister or any person authorised by him in the performance of his duties or in the exercise of his powers under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $1,000.
—(1) Notwithstanding anything to the contrary in the Societies Act (Cap. 311), the provisions of that Act shall have effect in relation to any student body constituted pursuant to the provisions of the constituent documents of the university company.
—(1) Any provision of the constituent documents, or any regulation of the university company made in pursuance thereof, that is inconsistent with any provision of this Act shall, to the extent of the inconsistency, be void.
(2) Nothing in this Act shall be construed to excuse or exempt the university company from complying with any written law that, apart from this Act, would apply to the university company.