Singapore legislation

Clause 26

of Telecommunication Authority of Singapore Bill

Clause 26

Power to issue stock, etc.

(1)

The Authority may, from time to time, with the approval of the Minister, borrow money by the issue of debentures or debenture stock, or raise capital by the issue of shares of stock of such class and value and upon such terms as it may think expedient, for all or any of the following purposes: —

(a)

the provision of working capital;

(b)

the redemption of any shares or stock which it is required or entitled to redeem;

(c)

the fulfilling of the functions of the Authority under this Act;

(d)

any other expenditure properly chargeable to capital account.

(2)

The Authority may make rules not inconsistent with the provisions of this Act to provide for such matters in connection with shares, stock, debentures or debenture stock issued under this Act as may appear necessary or expedient to the Authority, and, in particular, for regulating the method of issue, transfer, redemption or other dealing with such shares, stock, debentures or debenture stock.

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