Singapore legislation
Section 57
Section 57
Duties of treasurer of council
(1)
The duties of the treasurer of the council of a management corporation include the following:
to notify subsidiary proprietors of any contribution levied in accordance with this Act;
to receive, acknowledge, bank and account for any money paid to the management corporation;
to prepare any certificate applied for under section 47(1)(c); (d)to keep the accounting records and prepare the financial statements of the management corporation.
(2)
A person must not exercise or perform any of the powers, duties or functions of the management corporation or the treasurer of the management corporation, being powers, duties or functions relating to the receipt or expenditure of, or accounting for, moneys, or the keeping of the books of account, of the management corporation, unless the person is —
a subsidiary proprietor of the management corporation or a member of the council and is the treasurer of the management corporation or of the council;
a managing agent who is empowered to exercise or perform those powers, duties or functions; or
a person with whom the treasurer of the management corporation is required by an order of the council to exercise or perform jointly those powers, duties or functions, and who is enabling the treasurer to comply with the order.
(3)
The treasurer of a management corporation may delegate the exercise or performance of any of his or her powers (other than this power of delegation), duties or functions as treasurer, the delegation of which is specifically approved by the council of the management corporation, to another member of the council so approved, subject to such limitations as to time or otherwise as are so approved.
(4)
While a delegate is acting in accordance with the terms of a delegation under subsection (3), the delegate is deemed to be the treasurer of the management corporation.
(5)
The council of a management corporation may, by written notice served on the treasurer of the management corporation, order that he or she must not exercise or perform any of his or her powers, duties or functions that are specified in the notice, unless he or she does so jointly with another person so specified.