Singapore legislation
Clause 7
Clause 7
Application of moneys
(1)
The moneys and property of the Board whensoever derived shall be applied solely for the purpose of making payments in or in connection with the performance of its functions under this Act, and no portion thereof shall be paid or transferred directly or indirectly by way of dividend, bonus or otherwise by way of profit to its members.
(2)
Any moneys of the Board not immediately required for the purposes of the Board may be invested in such manner as may be authorised by the Minister.