Singapore legislation
Clause 14
Clause 14
Fund
(1)
There shall be established and maintained by the Board a fund to be called the “Preservation of Monuments Fund” into which all monies of the Board shall be paid.
(2)
The Minister may from time to time make grants to the Fund of such sums as he may determine out of monies to be provided by Parliament.
(3)
All monies in the Fund shall be deposited in a bank by the Board, or the Board may from time to time invest such monies in any of the securities in which trust funds may by section 4 of the Trustees Act, 1967 (Act 17 of 1967), be invested.
(4)
All cheques drawn upon the bank account of the Board shall be signed by any two of the following persons: —
the Chairman;
the Deputy Chairman; and
such other member of the Board as may be nominated by the Board for this purpose.
(5)
The Board shall have full power to manage and to expend the monies received by the Board for the purposes set out in this Act.