Significant Infrastructure Government Loan Act 2021 · 2020 Revised Edition · Part 2 · Authorisation and Application of Loan
10. Borrowing only for nationally significant infrastructure expenditure
Feedback & supportThe face value of every security issued under this Act, less any sum mentioned in section 5(2) —
face value
“face value”, for any security issued under this Act, means its face value at the time the security was issued;
must be paid into the Development Fund; and (b)may only be appropriated to meet nationally significant infrastructure expenditure by the Government.
Out of the proceeds of money raised under this Act, only the face value of every security issued under this Act, less any sum mentioned in section 5(2), must be treated as moneys received by way of loan upon the public credit of Singapore for the purposes of section 6 of the Financial Procedure Act 1966.
security
“security” includes stock, bonds, notes, certificates, bills and similar instruments;