Singapore legislation

Section 18

Accounts

The Board must open and maintain any account or accounts with a bank or banks that it considers necessary.

The Board must cause proper books of account to be kept with respect to —

(a)

all sums of money received and expended by the Foundation and all matters in respect of which receipt and expenditure takes place;

(b)

all sales and purchases of goods by the Foundation; and

(c)

the assets and liabilities of the Foundation.