Singapore legislation

Clause 47

of Info-communications Media Development Authority Bill

Clause 47

Revenue and property of Authority

(1)

The funds and property of the Authority include —

(a)

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

(b)

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

(c)

all fees, charges and other sums paid to the Authority (or an employee of the Authority or any other person acting on behalf of the Authority), under this Act or any other Act administered by the Authority, except as otherwise provided in section 48 or that other Act;

(d)

all moneys, dividends, royalties, interest or income received from any transaction made under the powers of the Authority under this Act or any other Act administered by the Authority;

(e)

all moneys borrowed by the Authority under this Act; and

(f)

all accumulations of income derived from any property or money referred to in paragraphs (a) to (e).

(2)

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

Read in full context — Info-communications Media Development Authority Bill →