Singapore legislation
Clause 27
of Deposit Insurance and Policy Owners’ Protection Schemes (Amendment) Bill
Clause 27
Repeal and re-enactment of section 77
Section 77 of the principal Act is repealed and the following section substituted therefor:“Three-year estimates of income and expenditure77.—
The Agency must before the start of every period of 3 consecutive financial years beginning 1 April 2019, prepare or cause to be prepared estimates of income and expenditure of the DI Fund, the PPF Life Fund, the PPF General Fund and the Agency for the 3 ensuing financial years. (2) The Agency must also prepare or cause to be prepared a supplementary estimate for any financial year where the estimates prepared under subsection (1) are insufficient.(3) All estimates mentioned in subsections (1) and (2) must be presented to the Minister for his approval.”.