Singapore legislation
Section 10
Section 10
Bank accounts and application of revenue
(1)
The Board must open and maintain an account or accounts with such bank or banks as the Board thinks fit.
(2)
Every account under subsection (1) must be operated by such person or persons authorised to do so by the Board.
(3)
The moneys of the Board must be applied only in payment or discharge of the expenses, obligations and liabilities of the Board and in making any payments that the Board is authorised or required to make.[8