Singapore legislation

Clause 7

of Pioneer Generation Fund Bill

Clause 7

Withdrawals

(1)

Moneys cannot be withdrawn from the Fund unless they are charged upon the Fund or are authorised to be withdrawn or transferred under this Act.

(2)

Despite section 13 of the Financial Procedure Act (Cap. 109), payment is to be made out of the Fund only if the payment is approved by the Minister or an accounting officer authorised, in writing, by the Minister.