Singapore legislation

Section 32

of Public Utilities Act

Section 32

Application of revenue

(1)

The income of the Board for any year shall be applied in defraying the following charges:

(a)

the remuneration, fees and allowances of the members of the Board;

(b)

the salaries, fees, remuneration, pensions, gratuities, provident fund and other superannuation benefits of the officers, auditor, agents and employees, and technical or other advisers, of the Board;

(c)

the working and establishment expenses of, and the expenditure on, or provision for the maintenance of any of the installations of the Board, and the discharge of the functions of the Board properly chargeable to revenue accounts;

(d)

the interest and sinking fund contributions on any loan payable by the Board;

(e)

the sums required to be paid to the Government towards repayment of any loan made by the Government to the Board;

(f)

such sums as the Board may think appropriate to set aside in respect of depreciation on the property of the Board having regard to the amount set aside out of revenue under paragraphs (d) and (e); and

(g)

any other expenditure authorised by the Board and properly chargeable to revenue account.

(2)

The balance of the revenue of the Board shall be applied for the creation of a general reserve or such other reserves or capital fund as the Board may consider appropriate.

Section 32 — Public Utilities Act | laws.sg