Singapore legislation

Clause 10

of Public Transport Council (Amendment) Bill

Clause 10

New sections 10A and 10B

The principal Act is amended by inserting, immediately after section 10, the following sections:“Issue of shares, etc.10A. As a consequence of —

(a)

the vesting of any property, rights or liabilities of the Government in the Council under this Act; or

(b)

any capital injection or other investment by the Government in the Council in accordance with any written law,the Council must issue such shares or other securities to the Minister for Finance as that Minister may, from time to time, direct.Power of investment10B. The Council may invest its moneys in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act (Cap. 1).”.

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