Financial Procedure Act 1966 · 2020 Revised Edition · Part 3 · Control and Management of Public Finances of Singapore
19. Write-off
Feedback & supportSubject to the provisions of the Constitution, the Minister shall in respect of public moneys and public stores have power —
public moneys
“public moneys” means all revenue, loan, trust and other moneys and all bonds, debentures, and other securities whatsoever raised or received by or on account of Singapore;
to write off losses or deficiencies of public moneys and the value of lost, deficient, condemned, unserviceable, redundant or obsolete public stores; and
public stores
“public stores” means chattels which are the property of or in the possession of or under the control of Singapore;
to abandon any claim to irrecoverable amounts of revenue, debts and overpayments.