Singapore legislation
Section 16
Section 16
Power of Board to accept gifts
(1)
The Board may on behalf of the Institute accept by way of grant, gift, testamentary disposition or otherwise, property and moneys in aid of the finances of the Institute on any conditions that it may determine.
(2)
Registers must be kept of all donations to the Institute, including the names of donors and any special conditions on which any donation may have been given.
(3)
All property, moneys or funds donated for any specific purposes must be applied and administered in accordance with the purposes for which they have been donated and must be separately accounted for.