Singapore legislation
Section 15
Section 15
Application of moneys
The moneys of the Authority for any financial year shall be applied in defraying the following charges:
the remuneration, fees and allowances of the members 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 the moneys or properties of the Authority;
interest on any loan raised by 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;
such sums as 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 thereof, 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;
such 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; and
any other expenditure authorised by the Authority and properly chargeable to revenue account.