Singapore legislation

Section 31

of National Heritage Board Act

Section 31

Funds and property of Board

(1)

The funds and property of the Board shall include —

(a)

all moneys and property transferred to the Board pursuant to section 37;

(b)

all gifts, donations and contributions to the Board;

(c)

all moneys received by the Board by way of grants;

(d)

all fees, commissions, rents, interests, dividends and other income accruing to the Board; and

(e)

all moneys borrowed by the Board under this Act.

(2)

The Board may open and maintain an account or accounts with any bank or banks as the Board thinks fit.

(3)

The Board may from time to time invest any of its funds in such manner or securities as trustees may by any written law be authorised to invest or, with the approval of the Minister, in any other securities or investments.

(4)

Subject to the terms of any trust or endowment, the funds and property of the Board shall be applied solely for the purposes of or in connection with the performance of the functions, powers and duties of the Board under this Act.

Read in full context — National Heritage Board Act →