Singapore legislation
Section 11
Section 11
Bank accounts and application of revenue
(1)
The Agency must open and maintain one or more accounts with any bank or banks that the Agency thinks fit.
(2)
Every account under subsection (1) must be operated upon as far as practicable by cheque signed by such person or persons authorised to do so by the Agency.
(3)
The moneys of the Agency must be applied only in payment or discharge of the expenses, obligations and liabilities of the Agency and in making any payments that the Agency is authorised or required to make.