Singapore legislation
Clause 24
Clause 24
Authority as a banker to, and financial agent of, the Government and manager of its external assets
(1)
The Authority shall act as a banker to, and a financial agent of, the Government.
(2)
Whenever the Authority receives and disburses Government moneys it shall keep account thereof and may be paid an agency fee for its services.
(3)
The Authority may act generally as agent for the Government on such terms and conditions as may be agreed between the Authority and the Government, where the Authority can do so appropriately and consistently with the provisions of this Act and with its duties and functions as a monetary authority.
(4)
The Authority shall, subject to the provisions of the Financial Procedure Act, 1966 (Act 13 of 1966), and any other written law, manage the external assets of the Government.