Clause 11
Repeal and re-enactment of section 78
of Housing and Development (Amendment) Bill
BillNot in forceProvision 11 of 13
Clause 11
Section 78 of the principal Act is repealed and the following section substituted therefor:“Investment
78. The Board may from time to time, with the approval of the Minister, invest moneys standing to the credit of the Board in —
(a)
the shares of any private or public company; or
(b)
any of the securities in which trust funds may, by any written law for the time being in force relating to trustees, be invested.”.