Constitution of the Republic of Singapore · 2020 Revised Edition · Part 11 · Financial Provisions
148G. Duty to inform President of certain transactions
Feedback & supportIt shall be the duty of the Auditor‑General and the Accountant‑General to inform the President of any proposed transaction by the Government which to their knowledge is likely to draw on the reserves of the Government which were not accumulated by the Government during its current term of office.
President
“President” means the President of Singapore elected under this Constitution and includes any person for the time being exercising the functions of the office of President;
Where the President has been so informed under clause (1) of any such proposed transaction, the President, acting in his discretion, may disapprove the proposed transaction.
Where the President does not disapprove of any proposed transaction under clause (2) even though he is of the opinion that the proposed transaction is likely to draw on the reserves of the Government which were not accumulated by the Government during its current term of office, the President shall cause his decision and opinion to be published in the Gazette.
reserves
“reserves”, in relation to the Government, a statutory board or Government company, means the excess of assets over liabilities of the Government, statutory board or Government company, as the case may be;