Singapore legislation
Regulation 3
Regulation 3
Tourism Fund
Subregulation 1
All moneys of the Tourism Fund shall —
(a)
be deposited in a bank in the name of the Board; or (b)be invested in any of the investments authorised by any written law for the investment of trust money.
Subregulation 2
The Board may deposit the moneys of the Tourism Fund in a bank and utilise the moneys for investment in accordance with paragraph (1) in such proportions as it may determine.
Subregulation 3
All cheques drawn upon the bank account of the Board shall be signed by —
(a)
a member and an officer; (b)2 members; or (c)2 officers, of the Board duly authorised by the Board in that behalf.
Subregulation 4
No officer of the Board shall be authorised to sign any cheque under paragraph (3) unless the officer is drawing a salary of at least $900 a month.