Singapore legislation

Clause 8

of Housing and Development (Amendment) Bill

Clause 8

Amendment of section 59

Section 59 of the principal Act is amended —

(a)

by deleting the words “Minister to the credit of a fund to be called the Housing and Development Fund. The Fund shall include a Capital Account and a Housing Account” in subsection (1) and substituting the word “Chairman”; and

(b)

by deleting subsections (2) and (3) and substituting the following subsection:“(2) Upon the commencement of the Housing and Development (Amendment) Act 1984, all moneys standing to the credit of the Housing and Development Fund maintained by the Board prior to the commencement of that Act shall be transferred to and vest in such bank account or accounts opened and maintained by the Board under subsection (1) as the Chairman thinks fit.”.

Read in full context — Housing and Development (Amendment) Bill →