Singapore legislation
Clause 6
Clause 6
National Sports Promotion Fund
(1)
There shall be established a fund to be known as the “National Sports Promotion Fund” (hereinafter in this Act referred to as “the Fund”) which shall be vested in the Board and which shall consist of —
(a)
grants or loans made to the Fund by the Government;
(b)
any donations or contributions made to the Fund by any person; and
(c)
any moneys accruing to the Board in the course of the discharge of its functions.
(2)
The Board shall open and maintain an account with a bank to be approved by the Minister and shall pay all moneys forming part of the Fund into such account.
(3)
All cheques drawn upon the said account shall be signed by two of the following: —
(a)
the Chairman;
(b)
the Deputy Chairman; and
(c)
the Executive Secretary.