14. The funds and property of the Authority shall consist of —
grants made under section 19;
all moneys paid to the Authority by way of grants, subsidies, donations, gifts and contributions;
all fees, charges, fines and composition sums payable to the funds of the Authority under any written law;
all moneys received by the Authority by way of charges and fees for services rendered by the Authority to any person, including any collection agency fee;
all moneys derived from the disposal, lease or hire of, or any other dealing with any property vested in or acquired by the Authority;
all accumulations of income derived from any such property or money, including any gains made on the sale of any investment of such money, and interest or gains thereon;
all moneys borrowed by the Authority under this Act; and
all other moneys and property lawfully received by the Authority for the purposes of the Authority.
15. The moneys of the Authority for any financial year shall be applied in defraying the following charges:
the remuneration, fees and allowances of the members of the Authority;
the salaries, fees, remuneration, pensions, superannuation allowances and gratuities of the officers, agents, employees, advisers and former employees of the Authority;
working and establishment expenses and expenditure on, or provision for, the maintenance of any of the property of the Authority, and the discharge of the functions of the Authority properly chargeable to revenue account;
expenses incurred or incidental to the investment or management of the moneys or properties of the Authority;
interest on any loan raised by the Authority;
sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provision for the repayment of borrowed money;
the cost, or any portion thereof, of any new works, plant, vessels or appliances not being a renewal of the property of the Authority, which the Authority may determine to charge to revenue;
such sums by way of contribution, for the purposes associated with the objects of this Act as the Authority may determine, to the public or for charities; and
any other expenditure authorised by the Authority and properly chargeable to revenue account.
—(1) The Authority shall in every financial year prepare or cause to be prepared and adopt annual estimates of income and expenditure of the Authority for the ensuing financial year.
(2) Supplementary estimates may be adopted by the Authority at any of its meetings.
(3) A copy of all annual estimates and supplementary estimates shall, upon their adoption by the Authority, be sent forthwith 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 Authority, and the Authority shall be bound thereby.
18. The Authority may, with the approval of the Minister —
invest its funds in such manner as it thinks fit; and
engage in any financial activity or participate in any financial arrangement for the purpose of managing or hedging against any financial risk that arises or is likely to arise from such investment.
19. For the purpose of enabling the Authority to carry out its functions under this Act, the Minister may, from time to time, make grants to the Authority of such sums of money as the Minister may determine out of moneys to be provided by Parliament.
20. For the discharge of its functions or duties under this Act or any other written law, the Authority may, from time to time, raise loans from the Government or, with the approval of the Minister for Finance, raise loans from banks or other financial institutions (whether in Singapore or elsewhere) by —
mortgage, overdraft or otherwise;
charge, whether legal or equitable, on any property vested in the Authority or on any other revenue receivable by the Authority under this Act or any other written law; or
the creation and issue of debentures or bonds.
*20A. As a consequence of the vesting of any property, rights or liabilities of the Government in the Authority under this Act, or of any capital injection or other investment by the Government in the Authority in accordance with any written law, the Authority shall issue such shares or other securities to the Minister for Finance as that Minister may from time to time direct.
* This section was not in operation as at 30th June 2002.
21. The financial provisions set out in the Second Schedule shall have effect with respect to the Authority.