Singapore legislation
Section 12
Section 12
Bank account of Board
(1)
All moneys in the Fund shall be deposited in the bank of the Board.
(2)
All cheques drawn upon the bank account of the Board shall be signed by two of the following:
(a)
the Chairman;
(b)
the Deputy Chairman; and
(c)
such Trustee as may be nominated by the Board for the purpose.
(3)
The Board shall have full power to manage and to spend the moneys it receives for the purposes set out in this Act and to delegate such powers other than the signing of cheques as it thinks fit to sub-committees appointed by it.