Singapore legislation

Section 15

of Inland Revenue Authority of Singapore Act 1992

Section 15

Bank accounts and application of revenue

(1)

The Authority must open and maintain an account or accounts with such bank or banks as the Authority thinks fit; and every such account must be operated as far as practicable by cheque signed by such person or persons authorised to do so by the Authority.

(2)

The moneys of the Authority must be applied only in payment or discharge of the expenses, obligations and liabilities of the Authority and in making any payments that the Authority is authorised or required to make.

Read in full context — Inland Revenue Authority of Singapore Act 1992 →