Clause 8

by deleting subsection (1) and substituting the following subsection:“(1) The Board may, from time to time, for the purposes of this Act, raise loans —

from the Government;

with the approval of the Minister and subject to the provisions of any written law, within or outside Singapore by any of the methods set out in subsection (3); or

from such other source within or outside Singapore as the Minister may direct.”;

by deleting paragraph (c) of subsection (3) and substituting the following paragraph:“(c)the creation and issue of debentures, stocks or bonds or otherwise.”; and

by inserting, immediately after subsection (3), the following subsection:“(4) For the purposes of this section, the power to raise loans shall include the power to make any financial agreement whereby credit facilities are granted to the Board for the purchase of goods, materials or things.”.