Singapore legislation
Regulation 27
of Platform Workers (Platform Work Associations) Regulations 2024
Regulation 27
Disposal and custody of funds
Subregulation 1
The committee of every registered platform work association must open a current account with a bank in the name of the registered platform work association.
Subregulation 2
Subject to paragraph (3), all moneys received by the registered platform work association, except moneys the disposal and custody of which are governed by rules relating to a benevolent fund, must be paid into that account within 7 days of the receipt of the moneys.
Subregulation 3
The treasurer or secretary of the registered platform work association may retain as cash‑in‑hand any sum that may be prescribed by the rules of the registered platform work association.
Subregulation 4
All cheques or withdrawal orders drawn on the account mentioned in paragraph (1) must be signed by the following officers of the registered platform work association:
the chairperson (or the analogous officer) or in his or her absence the vice‑chairperson (or the analogous officer); (b)the treasurer or secretary or, in the absence of the treasurer and secretary, a member of the committee appointed by the committee to sign in place of the absent treasurer or secretary;
Subregulation 5
The secretary of the registered platform work association must report to the Registrar the name of the bank with which the account mentioned in paragraph (1) has been opened and the Registrar must enter the name of the bank in the register.
Subregulation 6
The secretary of every registered platform work association must report to the Registrar the particulars of any account other than the account mentioned in paragraph (1) that is opened or kept by the registered platform work association with any other financial institution.
Subregulation 7
Where the Minister makes a direction under section 27(2) of the Act, the committee must suspend such officers who have powers of disposal and custody of any funds of the registered platform work association under its constitution until such time as the investigation by the public authority is completed and must immediately inform the Registrar of the suspension.
Subregulation 8
The committee may appoint, subject to the approval of the Registrar, such other officers to carry out the duties of the officers under suspension by virtue of paragraph (7).