Singapore legislation
Section 5
Section 5
Paid-up capital
Amended by21/200531/201731/201731/2017
(1)
The paid-up capital of the Authority is to be $100 million.
Amended by21/2005
(2)
The paid-up capital may be revised from time to time by such amount as the Government and the board may agree.
Amended by31/2017
(3)
For the purpose of subsection (2), the board must consider the Authority’s capital and reserves necessary for the Authority to carry out its principal objects and functions.
Amended by31/2017
(4)
Any reduction of or increase in the paid-up capital may be effected by way of transfers to or from the General Reserve Fund, or by such other means as the Government and the board may from time to time agree.
Amended by31/2017