Singapore legislation

Clause 16

of Civil Aviation Authority of Singapore Bill

Clause 16

Revenue and property of Authority

(1)

The funds and property of the Authority shall include —

(a)

grants made to it under section 17;

(b)

all levies, fees, charges, fines, composition sums and financial penalties payable to the Authority under this Act;

(c)

all moneys paid to, and all other moneys and property lawfully received by, the Authority for the purposes of the Authority;

(d)

all moneys paid to the Authority by way of grants, subsidies, donations, gifts and contributions;

(e)

all moneys received by the Authority by way of charges and fees for services rendered by the Authority to any person;

(f)

all moneys, dividends, royalties, interest or income received from any transaction made pursuant to the powers conferred on the Authority under this Act or any other written law;

(g)

all moneys borrowed by the Authority under this Act; and

(h)

all accumulations of income derived from any such property or money.

(2)

The moneys of the Authority shall be applied only in payment of expenditure incurred by it in the discharge of its functions, duties, obligations and liabilities and in making any payment that it is authorised or required to make by or under law.

(3)

The Authority shall open and maintain one or more accounts with such bank or banks as the Authority thinks fit, and every such account shall be operated by such person or persons as may, from time to time, be authorised in that behalf by the Authority.

(4)

It shall be the duty of the Authority to exercise and perform its functions under this Act so as to ensure that the total revenues of the Authority are sufficient, taking one financial year with another, to meet its total outgoings, including depreciation and interest on capital and to meet a reasonable proportion of the cost of performing the functions and duties of the Authority.

Read in full context — Civil Aviation Authority of Singapore Bill →