Singapore legislation
Section 43
Section 43
Purposes for which funds of Authority may be expended
(1)
The revenue of the Authority in any year shall be applied in payment of the following charges:
the interest and sinking fund contributions on any loan payable by the Authority;
the sums required to be paid to the Government towards repayment of any loan made by the Government to the Authority;
the salaries, fees and allowances of the members of the Authority;
the salaries, fees, allowances, remuneration, pensions, gratuities, provident fund and other superannuation benefits of the employees, agents, auditor and technical or other advisers of the Authority;
the working and establishment expenses of, and the expenditure on, or provision for the maintenance of any of the installations of the Authority, and the discharge of the functions of the Authority properly chargeable to revenue accounts;
such sums as the Authority may consider appropriate to set aside in respect of depreciation or renewal of property of the Authority, having regard to the amount set aside out of revenue under paragraphs (a) and (b);
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 to public or charitable objects associated with the objects of this Act as the Authority, with the approval of the Minister, may determine; and
any other expenditure authorised by the Authority and properly chargeable to revenue.
(2)
The balance of the revenue of the Authority shall be applied for the creation of a general reserve or such other reserves or capital fund as the Authority may consider appropriate.[40