On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 31/07/2002.
PART V
FINANCIAL PROVISIONS
13. The funds and property of the Office shall consist of —
(a)
grants made under section 18;
(b)
all fees, fines and composition fines paid into the funds of the Office under any written law;
(c)
all moneys paid to the Office for the purposes of the Office;
(d)
all moneys paid to the Office by way of grants, subsidies, donations, gifts and contributions;
(e)
all moneys received by the Office by way of charges and fees for services rendered by the Office to any person;
(f)
all moneys, dividends, royalties, interest or income received from any transaction made pursuant to the powers conferred on the Office under this Act or any other written law;
(g)
all moneys borrowed by the Office under this Act;
(h)
all other moneys and property lawfully received by the Office for the purposes of the Office; and
(i)
all accumulations of income derived from any such property or money.
14. The moneys of the Office shall be applied only in payment or discharge of the expenses, obligations and liabilities of the Office and in making any payment that the Office is authorised or required to make.
16.
—(1) The Office shall in every financial year prepare or cause to be prepared, and adopt annual estimates of income and expenditure of the Office for the ensuing financial year.
(2) Supplementary estimates may be adopted by the Office at any of its meetings.
(3) A copy of all annual estimates and supplementary estimates shall, upon their adoption by the Office, 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 Office, and the Office shall be bound thereby.
17. The Office may, with the approval of the Minister —
(a)
invest its moneys in such manner as it thinks fit; and
(b)
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.
18. For the purpose of enabling the Office to carry out its functions under this Act, the Minister may from time to time make grants to the Office of such sums of money as the Minister may determine out of moneys to be provided by Parliament.
19. For the discharge of its functions or duties under this Act or any other written law, the Office 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 —
(a)
mortgage, overdraft or otherwise;
(b)
a charge, whether legal or equitable, on any property vested in the Office or on any other revenue receivable by the Office under this Act or any other written law; or
(c)
the creation and issue of debentures or bonds.
19A. As a consequence of the vesting of any property, rights or liabilities of the Government in the Office under this Act, or of any capital injection or other investment by the Government in the Office in accordance with any written law, the Office shall issue such shares or other securities to the Minister for Finance as that Minister may from time to time direct.
[5/2002]
20. The financial provisions set out in the Second Schedule shall have effect with respect to the Office.