Singapore legislation
Section 11
Section 11
Power to issue Government securities
(1)
The Parliament may, by a resolution under Article 144(1)(a) of the Constitution with which the President concurs, authorise the amount of borrowing by the issue of Government securities in Singapore under this Act, and may, from time to time, vary that amount.
(2)
The Minister may, from time to time, borrow such sums by the issue of Government securities in Singapore except that the aggregate amount borrowed (whether before, on or after 14 September 2004) and outstanding at any time must not exceed the amount specified in any resolution (varied or otherwise) mentioned in subsection (1).
(3)
The Authority may, on behalf of the Minister, undertake the issue and management of Government securities issued under this Act.