Singapore legislation
Section 13
Section 13
Application of revenue
(1)
The revenue of the Land Transport Revenue Account for any financial year must be applied in defraying the following charges:
the remuneration, fees and allowances of the members of the Authority and the remuneration of the auditor of the Authority;
the salaries, fees, remuneration, pensions, superannuation allowances and gratuities of the officers, agents, employees, advisers and former employees of the Authority;
working and establishment expenses and expenditure on, or provision for, the maintenance of any of the property of the Authority, and the discharge of the functions of the Authority properly chargeable to revenue account;
expenses incurred or incidental to the investment or management of moneys in the Account;
interest on any loan raised by the Authority;
sums required to be paid to the Government towards repayment of any loan made by the Government to the Authority;
sums required to be transferred to a sinking fund or otherwise set aside for the purpose of making provision for the repayment of borrowed money;
any sums that may be deemed appropriate to set aside in respect of depreciation or renewal of the property of the Authority, having regard to the amount set aside out of revenue under paragraphs (c) and (f);
the cost, or any portion of the cost, 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;
sums to be transferred to the Railway Sinking Fund mentioned in section 13A to fund expenditure —
for the cost (or part of the cost) of any capital equipment including new works, plant, equipment, trains, vessels or appliances related to the operation and maintenance of the railway network under the Rapid Transit Systems Act 1995; or
for the cost of acquiring any estate or interest in any area or space within a station, or any area or space abutting a station the access to which is limited to an entrance or exit to the station;
any sums by way of contribution, for the purposes associated with the objects of this Act as the Authority may determine, to the public or for charities;
grants, loans or guarantees to any holder of a bus service licence for the purpose of improving and expanding the range and reliability of the bus services provided by the holders of such licences, including but not limited to meeting such expenditure for the delivery of bus services as the Authority may approve; and
any other expenditure authorised by the Authority and properly chargeable to revenue account.
(2)
The balance of the revenue of the Land Transport Revenue Account may be applied to the creation of a general reserve and any other reserves that the Authority thinks fit.