Singapore legislation
Regulation 33
Regulation 33
Bank instructions and authorised cheque signatories
Subregulation 1
Instructions to banks relating to changes of authorised cheque signatories and variation of any other authority shall be signed by the secretary and countersigned by the chairman.
Subregulation 2
Authorised cheque signatories are as follows:
(a)
cheques not exceeding $50,000 or such lesser amount as authorised by the Town Council from time to time—Secretary and an officer authorised by the Town Council(b)all other cheques—Chairman or vice-chairman and secretary or an officer authorised by the Town Council.
Subregulation 3
A Town Council may use any mode of payment other than cheques to effect payments, and instructions pertaining to such mode shall be authorised by the stipulated cheque signatories.