Singapore legislation

Clause 12

Subscriptions payable by members

(1)

Every local or foreign company that is a member of the Singapore Business Federation by virtue of this Act shall pay to the Federation such annual or periodic subscription of such amount as may be —

(a)

determined by the Council after consultation with the Board; and

(b)

approved by the Minister.

(2)

For the purpose of subsection (1), the Council, after consultation with the Board and subject to the approval of the Minister, may —

(a)

divide the members of the Singapore Business Federation into different classes;

(b)

determine that different amounts of subscription shall be payable by different classes of such members and for different periods;

(c)

vary from time to time, the subscriptions payable by such members or different classes of such members; and

(e)

determine the rate of interest that shall be payable by any such member in the event that any subscription due from such member remains unpaid for such period as the Federation may determine.

(3)

The amount of subscription prescribed as being payable by any member of the Singapore Business Federation under this section shall not exceed in the aggregate $1,500 in any calendar year.

(4)

Any subscription that is payable to the Singapore Business Federation under this section —

(a)

may be recovered by the Council by an action for a debt in any court of competent jurisdiction; and

(b)

shall for the purposes of the Small Claims Tribunals Act (Cap. 308) be deemed to be moneys payable under a contract for the provision of services and the Council may lodge a claim for the payment of such subscription with a Small Claims Tribunal in accordance with the provisions of that Act.

Read in full context — Singapore Business Federation Bill →