Singapore legislation
Clause 15
Clause 15
Operating expenses
(1)
It shall be the duty of the Authority so to exercise and perform its functions under this Act as to secure that the total revenues of the Authority are sufficient, taking one financial year with another, to meet its total operating expenses properly chargeable to the Account.
(2)
In this section, “operating expenses” shall not include —
(a)
operating expenses associated directly with the functions and duties referred to in section 14(1); and
(b)
interest, fees and other charges in respect of loans incurred under section 14(2),the payment of which shall be met from funds provided by the Minister for Finance to the Authority pursuant to section 14(1).