Singapore legislation
Clause 39
Clause 39
Investment of funds
(1)
Subject to the provisions of this Act, moneys in the Bank shall, as far as practicable and except for such sums as may be assigned to be kept in hand for the general purposes of the Bank, be invested in such stocks, funds and securities or such other investments as the Minister for Finance may from time to time approve.
(2)
Any sum of money that may from time to time be required for the repayment of deposits in the Bank or for the payment of interest thereon or expenses incurred in the execution of this Act, may be raised by the sale of the whole or a part of such securities:Provided that any sum of money which may be required for the purposes aforesaid may, with the approval of the Minister for Finance, be advanced to the Bank by the Accountant-General out of the Consolidated Fund until they can be raised by the sale of such securities, and the Bank shall pay all interest due on such advances.