Singapore legislation

Clause 7

of Monetary Authority of Singapore (Amendment) Bill

Clause 7

Amendment of section 5

Section 5 of the amended principal Act is amended —

(a)

by inserting, immediately after the words “of moneys” in paragraph (a), the words “and assets”; and

(b)

by deleting paragraph (b) and substituting the following paragraph:“(b)arising from or incidental to —

(i)

any borrowing under this Act, the repealed 1923 Act and under any other written law authorising moneys borrowed to be paid into the Government Securities Fund; and

(ii)

any redemption of Government securities, Treasury Bills or RMGS, including the transfer of assets to the Authority upon redemption of any RMGS.”.

Read in full context — Monetary Authority of Singapore (Amendment) Bill →