Singapore legislation

Clause 15

of Government Borrowing (Miscellaneous Amendments) Bill

Clause 15

Repeal of Part IV and new Division 2 of Part III

Part IV of the Government Securities Act is repealed and the following Division heading and sections substituted therefor:“Division 2 — Special provisions for Treasury BillsMaturity of Treasury Bills

14. Every Treasury Bill issued under this Part must —

(a)

have a maturity period ordinarily not exceeding one year; and

(b)

be subject to such conditions as to repayment, redemption and other matters as may be prescribed by this Act and its regulations and, subject to the provisions of this Act and the regulations, by the Minister.Principal charged on Government Securities Fund 15. The principal payable in respect of moneys borrowed and represented by Treasury Bills issued (or deemed issued) under this Part, are charged upon and are payable out of the Government Securities Fund without authority other than this section.”.

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