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PART V
Management and Administration of Trustee Savings Banks
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Annual accounts of trustee savings bank.
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35.—(1) The trustees of a trustee savings bank shall make up in respect of each financial year of the bank an income and expenditure account and a balance sheet.
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(2) An income and expenditure account of a trustee savings bank shall, subject to the non-disclosure of any matters (which shall be indicated in the account) not required to be disclosed, give a true and fair view of the income and expenditure of the bank for the financial year concerned and its balance sheet shall give a true and fair view of the state of affairs of the bank as at the end of the financial year concerned.
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(3) An income and expenditure account and a balance sheet of a trustee savings bank—
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(a) shall, subject to the non-disclosure of any matters (which, in so far as they relate to the balance sheet, shall be indicated therein) which are not required to be disclosed, be in such form and shall contain such particulars as the Central Bank may specify in a direction either generally or in respect of a specified trustee savings bank or trustee savings banks or class of trustee savings bank, and
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(b) shall, unless the Central Bank specifies otherwise in a direction, include, for the purpose of comparison, particulars for the financial year immediately preceding that to which they relate corresponding to the particulars contained in the income and expenditure account and balance sheet.
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(4) A balance sheet and an income and expenditure account of a trustee savings bank shall be signed by not less than 2 trustees of the bank and by the secretary or a manager of the bank.
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(5) A copy of the balance sheet and income and expenditure account of a trustee savings bank for a financial year of the bank and of the auditor's report thereon shall be submitted to the Minister and the Central Bank by the trustees of the bank as soon as may be after the completion of the audit of the accounts of the bank for that year.
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