Singapore legislation
Clause 33
Clause 33
Constitution of Town Council Fund
(1)
For the purposes of managing and maintaining the common property of residential and commercial property in the housing estates of the Board, a Town Council shall establish and maintain separate funds for the management and maintenance of residential property, market and food centres and of other commercial property; and such funds shall together constitute the Town Council Fund and shall, with all property which is or may become vested in the Town Council, be under the direction and control of the Town Council subject to the provisions of this Act.
(2)
All moneys received by a Town Council by virtue of this or any other Act shall be paid into the Town Council Fund and all liabilities falling to be discharged by a Town Council shall be discharged out of that Fund.
(3)
All moneys of the Town Council Fund that are not immediately required shall be paid into the appropriate fund established under subsection (1) to which the moneys relate and be applicable only to meet such expenses and liabilities as are properly attributable to that Fund.
(4)
A Town Council shall establish and maintain, as part of the Town Council Fund, separate sinking funds for the management and maintenance of residential property, market and food centres and of other commercial property.
(5)
The Minister may from time to time prescribe the minimum amount of the conservancy and service charges paid, and of any grants-in-aid made, to a Town Council under sections 38 and 41 to be paid into the sinking funds established for residential property, market and food centres and for other commercial property.
(6)
A Town Council shall not disburse any moneys —
from any sinking fund otherwise than for the purposes of meeting expenses or liabilities properly attributable to that sinking fund in respect of —
cyclical major repainting of any part of the common property of residential property, market and food centres and other commercial property in the housing estates of the Board within the Town;
renewal or replacement of any roofing system, water tanks, pumps and water supply system, electrical supply system, lightning protection system, central television antenna system and lifts existing for common use or purposes of residents of residential or commercial property in the housing estates of the Board within the Town;
major repairs and maintenance of the common property of residential property, market and food centres and other commercial property and boundary walls of the housing estates of the Board within the Town; or
any other works which may be prescribed from time to time; or
from the Town Council Fund otherwise than for the purpose of exercising its powers or carrying out its duties and functions under this or any other Act.
(7)
All payments to and out of the Town Council Fund shall be made to and by the Secretary who shall be responsible therefor to the Town Council.
(8)
Notwithstanding this section, if at the end of any financial year of a Town Council there is shown a surplus of revenue over expenditure of any fund established by the Town Council under subsection (1), the Town Council may transfer from that fund an amount not exceeding the surplus to any other fund established by the Town Council under subsection (1) which is in deficit to make good the deficit in that fund.
(9)
Where an order is made under section 3(2) or where the area of a Town is altered under the Parliamentary Elections Act (Cap. 218), and any residential or commercial property or any part of the common property thereof is transferred from the Town of one Town Council to the Town of another, the Town Councils may agree on the amount of the sinking fund relating to such property or such part to be transferred and paid to the Town Council to which such property or part is transferred; and in default of agreement such amount shall be determined by the Minister whose decision shall be final.
(10)
For the purposes of this section, “other commercial property” means any commercial property which does not form part of any residential property.