Government Securities (Debt Market and Investment) Act 1992 · 2020 Revised Edition · Part 3 · Authorisation of Borrowing Andapplication of Proceeds
11. Borrowing limit for Government securities and Treasury Bills
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The Minister may raise loans, in the manner provided in this Part, by the issue of Government securities and Treasury Bills in Singapore.
Government securities
“Government securities” means stocks, bearer bonds, book‑entry Government securities or other securities which may be issued under this Act;
However, the Minister must not raise a loan under this Act if the aggregate amount borrowed by the issue of Government securities and Treasury Bills —
under either or both as follows:
the repealed 1923 Act;
this Act, whether before, on or after the date of commencement of section 14 of the Government Borrowing (Miscellaneous Amendments) Act 2021; and
outstanding at any time,exceeds $1,065,000,000,000, or any higher amount specified in a resolution of Parliament with which the President concurs in the President’s discretion under Article 144(1)(a) of the Constitution.