Clause 8

by renumbering the existing section as subsection (1);

by deleting the word “and” appearing at the end of paragraph (k) of subsection (1) thereof and by inserting immediately thereafter the following new paragraphs: —“(l)to provide and maintain, either within Singapore or otherwise, housing accommodation, including convalescent or holiday houses for employees of the Board; to provide and maintain for such employees clubs and playing fields and to provide educational facilities for them; to grant loans to such employees, or to act as guarantor for loans taken by them, to enable them to purchase their own houses and vehicles; and to award scholarships or to give loans to such employees to obtain professional, technical or other training;

with the written approval of the Minister, to award compensation to any person sustaining any damage by reason of the exercise of any of the powers, under this Ordinance, by the Board or by any employee thereof;

to act as agents for any industrial enterprise;

to carry out experimental work and to conduct, promote and encourage the study of, and research in, matters connected with any of the Board’s purposes and functions;

from time to time to invest any of the funds of the Board in securities authorised for the investment of trust funds by any written law for the time being in force, and, with the approval of the Minister, in other securities, within or otherwise than within Singapore;

with the concurrence of the Housing and Development Board, to finance or carry out or assist in carrying out any scheme in connection with urban redevelopment; and”;

by relettering the existing paragraph (1) of subsection (1) thereof as paragraph (r); and

by inserting immediately after subsection (1) thereof the following new subsections: —“(2) The Board may, in addition to the powers vested in it by subsection (1), exercise such other powers as the Minister may authorise the Board in writing to exercise.(3) The Board shall, when it is exercising powers authorised by the Minister under subsection (2), be deemed to be exercising powers vested in it by subsection (1).”.