Section 61: System of internal control of public companies.

(1) A public company shall establish a system of internal controls over its financial reporting and security of its assets and it shall be the responsibility of the board of directors to ensure the integrity of the company's financial controls and reporting.
(2) The board of directors of a public company shall report on the effectiveness of the company's internal control system in its annual report.
(3) In this section, "internal control" means policies, procedures and practices put in place by management to ensure safety of assets, accuracy of financial records and reports, achievement of corporate objectives and compliance with laws and regulations.