Singapore legislation
Section 40
Section 40
Investment of funds
(1)
The Bank may invest its moneys in the following ways:
in bonds, stocks and other securities of the Government;
on mortgages of estates or interests in immovable property in Singapore;
on deposits with the Monetary Authority of Singapore or with banks licensed under the Banking Act [Cap. 19]; and (d)with the written approval of the Minister, in any shares and securities where the Minister considers such investments to be in the economic interest of Singapore.
(2)
Any sum of money that may from time to time be required for the repayment of deposits in the Bank or for the payment of interest thereon or expenses incurred by the Bank, may be raised by the sale or disposal of the investments mentioned in subsection (1):Provided that any sum of money required for those purposes may, with the approval of the Minister for Finance, be advanced to the Bank by the Accountant-General out of the Consolidated Fund until the sum can be raised by the sale or disposal of such investments, and the Bank shall pay all interest due on such advances. [39