Singapore legislation

Clause 7

of Jurong Town Corporation (Amendment No. 2) Bill

Clause 7

Amendment of section 24

Section 24 of the principal Act is hereby amended —

(a)

by deleting the expression “to the credit of a fund to be called the “Jurong Town Corporation Fund”. The Fund shall include a Capital Account and a General Account” appearing in the fifth, sixth, seventh and eighth lines thereof;

(b)

by deleting subsections (2) and (3) thereof and substituting therefor the following: —“(2) The accounting records of the Corporation shall distinguish between capital and revenue transactions.(3) Moneys received by way of loans shall be shown separately in the books and accounts and in the balance-sheet of the Corporation.”; and

(c)

by inserting immediately after the word “account” appearing in the marginal note thereto the words “and accounting records”.

Read in full context — Jurong Town Corporation (Amendment No. 2) Bill →