Singapore legislation

Section 13

of People’s Association Act

Section 13

Bank accounts and application of funds

Amended by5/9327/200245/2004

(1)

The Board may deposit all moneys belonging to the Association in such account or accounts which it may open with —

(a)

any bank or banks licensed under the Banking Act (Cap. 19); or

(b)

any finance company or companies licensed under the Finance Companies Act (Cap. 108).

Amended by5/93

(2)

The account or accounts in which the moneys belonging to the Association are to be deposited may be opened in the name of —

(a)

the Association; or

(b)

the management committee or any other approved constituent committee of any community centre, club, institute or other body managed or run by the Board.

(3)

Each bank account shall be operated by such person as may, from time to time, be authorised in that behalf by the Board.

Amended by27/2002

(4)

The Board may invest the funds of the Association in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act (Cap. 1).

Amended by45/2004

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