13. The financial year of the Council shall begin on 1st April of each year and end on 31st March of the succeeding year, except that the first financial year of the Council shall begin on 1st December 2009 and end on 31st March of the succeeding year.
14.
—(1) The Council shall, in every financial year, prepare or cause to be prepared and shall adopt annual estimates of income and expenditure of the Council for the ensuing financial year.
(2) Supplementary estimates may be adopted by the Council at any of its meetings.
(3) A copy of all annual estimates and supplementary estimates shall, upon their adoption by the Council, be sent immediately to the Minister.
(4) The Minister may approve or disallow any item or portion of any item shown in the estimates, and shall return the estimates as amended by him to the Council, and the Council shall be bound thereby.
(5) Notwithstanding any provision of this section, the Council may transfer all or any part of moneys assigned to one item of expenditure to any item under the same head of expenditure in any estimates approved by the Minister.
15. All moneys recovered, or charges, composition sums or financial penalties collected, under this Act shall be paid into and form part of the moneys of the Council.
16. For the purpose of enabling the Council to perform its functions and discharge its duties under this Act or any other written law, the Minister may, from time to time, make grants to the Council of such sums of money, as the Minister may determine, out of moneys to be provided by Parliament.
17.
—(1) For the performance of its functions or discharge of its duties under this Act or any other written law, the Council may, from time to time, raise loans from the Government or, with the approval of the Minister, raise loans within or outside Singapore from such source as the Minister may direct by —
(a)
mortgage, overdraft or other means, with or without security;
(b)
charge, whether legal or equitable, on any property vested in the Council or on any other revenue receivable by the Council under this Act or any other written law; or
(c)
the creation and issue of debentures, bonds or any other instrument as the Minister may approve.
(2) For the purposes of this section, the power to raise loans shall include the power to make any financial agreement whereby credit facilities are granted to the Council for the purchase of goods, materials or things.
18. As a consequence of the vesting of any property, rights or liabilities of the Government in the Council under this Act, or of any capital injection or other investment by the Government in the Council in accordance with any written law, the Council shall issue such shares or other securities to the Minister for Finance as that Minister may, from time to time, direct.
20. The moneys of the Council shall be applied only in payment or discharge of the expenses, obligations and liabilities of the Council and in making any payment that the Council is authorised or required to make.
21. The Council may invest its moneys in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act (Cap. 1).
22. The financial provisions set out in the Third Schedule shall have effect with respect to the Council.