What are the obligations of SFC to Financial Secretary?

• A. Info at requests
• B. Annual reports & statements
• C. Recommendations for inspector appointment
• D. Info at requests; annual reports & statements; recommendations for inspector appointment

Answer: (D)

This question tests how the SFC is kept accountable to the Financial Secretary. Under the relevant law, the SFC must keep the Financial Secretary informed through three main channels: it must provide information on request, it must prepare and present annual reports and statements of accounts, and it must offer recommendations for the appointment of inspectors if the government directs an inspection. These requirements ensure transparency, governance, and oversight of the SFC’s activities. Since all three elements are mandated, the comprehensive duty covers information on demand, annual reports and financial statements, and recommendations for inspector appointments.