Singapore legislation

Clause 10

of Housing and Development (Amendment) Bill

Clause 10

Amendment of section 75

Section 75 of the principal Act is amended by deleting subsection (1) and substituting the following subsections:“(1) Subject to subsection (1A), all moneys paid to the Board shall forthwith be paid into such bank or banks as may from time to time be approved by the Chairman.(1A) Subsection (1) shall not apply to —

(a)

moneys paid for the purposes of a pension scheme or schemes or a provident fund or funds established under section 42;

(b)

moneys paid for the purposes of any separate fund or funds which the Board may by any written law or by any direction or sanction of the President or the Minister under the provisions of this Act be required to administer; or

(c)

moneys deposited by any person in connection with his tender to the Board.”.

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