Schedule 6: Accounts

SCHEDULE 6 [sections 27 & 42 & Schedule 11] (Amended 5 of 2007 s. 31)
1. All bills, invoices, vouchers, receipts and other documents referred to in the books or records of account and other records maintained under section 27(1) shall be kept by the management committee for such period, being not less than 6 years, as the corporation may determine.
1A. The management committee shall-
(a) at the request of not less than 5% of the owners, permit those owners or any person appointed by those owners to inspect any bills, invoices, vouchers, receipts or other documents referred to in paragraph 1 at any reasonable time; and
(b) permit any person authorized by the court to inspect any bills, invoices, vouchers, receipts or other documents referred to in paragraph 1 at any reasonable time. (Added 5 of 2007 s. 31)
1B. For the purposes of paragraph 1A(b), an owner may apply to the court for an order authorizing the owner, or any other person named in the application, to inspect any bills, invoices, vouchers, receipts or other documents referred to in paragraph 1. (Added 5 of 2007 s. 31)
1C. The court may make an order under paragraph 1B only if it is satisfied that-
(a) the application is made in good faith; and
(b) the inspection applied for is for a proper purpose. (Added 5 of 2007 s. 31)
2. Within 1 month after each consecutive period of 3 months, or such shorter period as the management committee may select, the treasurer shall prepare a summary of the income and expenditure of the corporation in respect of that period, display a copy of the summary in a prominent place in the building, and cause it to remain so displayed for at least 7 consecutive days. (Amended 5 of 2007 s. 31)
3. If the tenants’ representative, an owner, a registered mortgagee or any person duly authorized in writing in that behalf by an owner or registered mortgagee requests in writing the corporation to supply him with copies of-
(a) the financial statements and, if applicable, the accountant’s report prepared under section 27; or (Amended 5 of 2007 s. 31)
(b) a summary of the income and expenditure of the corporation prepared under paragraph 2, the treasurer shall, on the payment of such reasonable copying charge as the management committee may determine, supply such copies to that person.
4. The treasurer shall, if requested by the Authority or an authorized officer and without raising any charge, supply the copies referred to in paragraph 3 to the Authority or that officer. (Added 27 of 1993 s. 41)

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