Singapore legislation

Regulation 11A

Virements

Amended byS 186/2017 wef 01/05/2017

Subregulation 1

If at the end of a financial year of a Town Council, there is a surplus in an operating fund of the Town Council, or a surplus in an ordinary sinking fund of the Town Council, the Town Council may do the following, whichever is applicable:

(a)

transfer the whole or part of the surplus in the operating fund to —

(i)

a lift replacement fund; or

(ii)

an ordinary sinking fund;

(b)

transfer the whole or part of the surplus in an ordinary sinking fund to a lift replacement fund, but only to make good any deficit in the lift replacement fund.

Subregulation 2

If at the end of a financial year of a Town Council, there is a surplus in —

(a)

an operating fund of the Town Council established for residential property within its Town;

(b)

a lift replacement fund of the Town Council established for residential property within its Town; or

(c)

an ordinary sinking fund of the Town Council established for residential property within its Town,the Town Council may transfer —

(i)

the whole or part of the surplus in sub‑paragraph (a) to any operating fund established for commercial property within its Town, only to make good any deficit in the operating fund established for commercial property;

(ii)

the whole or part of the surplus in sub‑paragraph (b) to any lift replacement fund established for commercial property within its Town, only to make good any deficit in the lift replacement fund established for commercial property; or

(iii)

the whole or part of the surplus in sub‑paragraph (c) to any ordinary sinking fund established for commercial property within its Town, only to make good any deficit in the ordinary sinking fund established for commercial property.

Subregulation 3

Amended byS 186/2017 wef 01/05/2017

If at the end of a financial year of a Town Council, there is a surplus in —

(a)

an operating fund of the Town Council established for commercial property within its Town;

(b)

a lift replacement fund of the Town Council established for commercial property within its Town; or

(c)

an ordinary sinking fund of the Town Council established for commercial property within its Town,the Town Council may transfer —

(i)

the whole or part of the surplus in sub‑paragraph (a) to any operating fund established for residential property within its Town, only to make good any deficit in the operating fund established for residential property;

(ii)

the whole or part of the surplus in sub‑paragraph (b) to any lift replacement fund established for residential property within its Town, only to make good any deficit in the lift replacement fund established for residential property; or

(iii)

the whole or part of the surplus in sub‑paragraph (c) to any ordinary sinking fund established for residential property within its Town, only to make good any deficit in the ordinary sinking fund established for residential property.

Read in full context — Town Councils Financial Rules →