Singapore legislation
Section 37
Section 37
Trustee to pay moneys received by him into prescribed bank account
(1)
Every trustee shall, in the manner and at the times prescribed by the rules, pay all moneys received by him into such bank account as is prescribed by those rules or as may be specified by the court.
(2)
Any trustee who pays any moneys received by him as trustee into any bank account other than the bank account prescribed or specified under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.