25B. Purposes of Changi Airport Development Fund

for carrying on —

any major airport development within the meaning of section 49(4) at an airport site at Changi; or

any construction, improvement, extension, demolition, enlargement and replacement of air navigation facilities and other facilities and buildings required in respect of or in connection with the operation of an airport at that airport site;

for the provision, acquisition, improvement and replacement of other capital assets (including vehicles, vessels, rolling-stock, machinery, instruments and equipment) required in respect of or in connection with the operation of an airport at the airport site at Changi;

for the carrying on of any survey, research or investigation preparatory to the undertaking of any purpose referred to in paragraph (a) or (b);

to provide grants or loans for any purpose referred to in paragraph (a), (b) or (c);

to pay all reasonable legal costs and all reasonable expenses incurred by the Authority in connection with the collection or attempted collection of any outstanding amounts (including any interest thereon) of any sums due under any loan made out of moneys in the Changi Airport Development Fund;

to pay all amounts relating to the sale, disposal or write-off of any investments paid for with moneys from the Changi Airport Development Fund;

to invest in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965;

to pay any principal or interest on moneys borrowed or raised by the Authority for the purposes of the Changi Airport Development Fund;

to pay any expenses properly attributable to the setting up of the Changi Airport Development Fund and the administration, management and investment of moneys in that Fund.