Clause 11

by inserting, immediately after section 9A, the following section:“Power to borrow9B.—

The Board may, from time to time, for the purposes of this Act, raise loans from the Government or, with the approval of the Minister, raise loans within or outside Singapore from such source as the Minister may direct by —

mortgage, overdraft or other means, with or without security;

charge, whether legal or equitable, on any property vested in the Board or on any other revenue receivable by the Board under this Act or any other written law; or

the creation and issue of debentures, bonds or any other instrument as the Minister may approve.(2) 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 or services.”; and

by deleting paragraph (b) of section 12(1) and substituting the following paragraph:“(b)the amount of any commission prescribed, or determined in any manner prescribed, in any regulations made under section 21.”.