Singapore legislation
Section 21
Section 21
Ability to delegate, etc.
(1)
The Board may delegate the performance or exercise of any of its functions or powers, either generally or specially, subject to the conditions or restrictions it thinks fit, to any of the following persons:
a trustee;
a public officer;
an employee of a public authority;
an agent, a consultant or an investment manager appointed or engaged under section 20(2).
(2)
A delegation by the Board under subsection (1) of the performance or exercise of any of its functions or powers to a person (called in this Act a delegate) must be made by —
resolution of the Board; and
written notice given to the delegate.
(3)
A delegation by the Board under subsection (1) of the performance or exercise of any of its functions or powers to a delegate mentioned in subsection (1)(d) may authorise that delegate to subdelegate the performance or exercise of the function or power to an appropriately qualified employee or contractor of that delegate (called in this Act a subdelegate).
(4)
A subdelegation by a delegate under an authorisation given to the delegate under subsection (3) must be subject to the same conditions or restrictions imposed on the delegate under subsection (1) (called in this section the original conditions or restrictions), except that the delegate may —
modify any of the original conditions or restrictions to apply a more stringent form of that condition or restriction to the subdelegate; or
impose on the subdelegate any additional condition or restriction not inconsistent with the original conditions or restrictions.
(5)
Subsections (1) and (3) do not apply to any function or power that is declared by this Act or any other written law to be non‑delegable.
(6)
A subdelegate to whom a function or power of the Board is subdelegated under an authorisation given to a delegate under subsection (3) is not authorised to further delegate that function or power to anyone else.
(7)
A delegation or subdelegation in accordance with this section is not affected by any change in the membership of the Board.