Singapore legislation

Clause 24

of Government Borrowing (Miscellaneous Amendments) Bill

Clause 24

Repeal and re-enactment of section 30

Section 30 of the Government Securities Act is repealed and the following section substituted therefor:“Authority acts on Government’s behalf 30.—

(1)

The Authority is, by this section, appointed to act on the Government’s behalf as an agent —

(a)

for issuing of Government securities or Treasury Bills for moneys borrowed under this Act; and

(b)

for any other purpose connected with paragraph (a).(2) Without limiting subsection (1), the Authority may —

(a)

by public notice invite the public to apply to take up any Government securities or Treasury Bills issued under this Act; and

(b)

refuse any application to take up Government securities or Treasury Bills issued under this Act without assigning any reason.(3) Subsection (1) does not prevent the exercise by the Minister of any power under this Act.”.

Read in full context — Government Borrowing (Miscellaneous Amendments) Bill →