Singapore legislation
Section 54
Section 54
Borrowing power
(1)
The Authority cannot raise loans for the performance of its functions under this Act or any other Act administered by the Authority except in accordance with this section.
(2)
Subject to subsection (3), the Authority may raise loans by —
mortgage, overdraft or other means, with or without security;
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
the creation and issue of debentures or bonds, or such other instrument as the Minister may approve.
(3)
The Authority may raise loans under subsection (2) —
from the Government; or
with the approval of the Minister, from another source, whether in or outside Singapore.
(4)
For the purposes of this section, the power to raise loans includes the power to enter into any financial agreement or arrangement under which credit facilities are granted to the Authority for the purchase of goods or services.