Singapore legislation
Section 18
Section 18
Bank accounts and application of moneys
Amended by18/2002
(1)
The Board may open and maintain an account or accounts with such bank or banks as the Board thinks fit.
(2)
Every such account under subsection (1) shall be operated upon by such person or persons as may from time to time be authorised in that behalf by the Board.
Amended by18/2002
(3)
The moneys of the Board shall 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.