Singapore legislation
Clause 21
Clause 21
Bank accounts and application of revenue
(1)
The Board may open and maintain an account or accounts with such bank or banks as the Board thinks fit and every such account shall be operated upon by cheque signed by the chief executive officer and at least one other person as may from time to time be authorised in that behalf by the Board.
(2)
The moneys of the Board shall be applied only in payment or discharge of the expenses, obligations and liabilities of the Board and in making any payments that the Board is authorised or required to make.