Urban Redevelopment Authority (Amendment) Bill

by inserting, immediately after paragraph (c), the following paragraph:“(ca)to sell, lease or grant licences to use or occupy land or other property as agent for the Government or any statutory authority when appointed to do so, for the purposes of the development and redevelopment of the land or property or for such other purpose as the Government or statutory authority may specify;”;

by inserting, immediately after paragraph (f), the following paragraph:“(fa)to undertake land planning and to manage and control the development of land in Singapore;”; and

by deleting paragraph (g) and substituting the following paragraph:“(g)to inform and advise the Government on matters relating to land planning and the development of land in Singapore;”.

invest its funds in such manner as it thinks fit; and

engage in any financial activity or participate in any financial arrangement for the purpose of managing or hedging against any financial risk that arises or is likely to arise from such investment.”.

The Authority may, in its discretion, compound any offence under this Act or any regulations made thereunder which is prescribed as a compoundable offence by collecting from a person reasonably suspected of having committed the offence a sum not exceeding $1,000.(2) On payment of such sum of money, no further proceedings shall be taken against that person in respect of the offence.(3) The Authority may, with the approval of the Minister, make regulations to prescribe the offences which may be compounded.(4) All sums collected under this section shall be paid to the Authority.”.