Singapore legislation

Section 18

of Civil Aviation Authority of Singapore Act 2009

Section 18

Borrowing powers

(1)

For the performance of its functions or discharge of its duties under this Act or any other written law, the Authority may raise loans from the Government or, with the approval of the Minister, raise loans within or outside Singapore from such source as the Minister may direct by —

(a)

mortgage, overdraft or other means, with or without security;

(b)

charge, whether legal or equitable, on any property vested in the Authority or on any other revenue receivable by the Authority under this Act or any other written law; or

(c)

the creation and issue of debentures, bonds or any other instrument as the Minister may approve.

(2)

For the purposes of this section, the power to raise loans includes the power to make any financial agreement whereby credit facilities are granted to the Authority for the purchase of goods, materials or things.

Read in full context — Civil Aviation Authority of Singapore Act 2009 →