Financial year
s 18
Open ↗18. The financial year of the Board begins on 1 April of each year and ends on 31 March of the succeeding year.
Source
Health Promotion Board Act 2001 PART 5 — FINANCIAL PROVISIONS
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Minister’s approval of estimates
s 19
Open ↗19.—(1) A copy of all annual estimates of revenue and expenditure and supplementary estimates must, upon their adoption by the Board, be sent without delay to the Minister.[5/2018] (2) The Minister may approve or disallow any item or portion of any item shown in the annual estimates or supplementary estimates.[5/2018] (3) The Minister must return the annual estimates or supplementary estimates as amended under subsection (2) to the Board, and the Board is bound by the Minister’s decision.[5/2018] (4) However, the Board may transfer all or any part of moneys assigned to one item of expenditure to any item under the same head of expenditure in any estimates approved by the Minister.[5/2018]
Funds of Board
s 20
Open ↗20. The funds of the Board consist of —(a) all moneys transferred to the Board under section 30; (b) all moneys received by the Board by way of grants or subsidies; (c) all gifts, donations and contributions to the Board; (d) all fees, charges, commissions, rents, interests, dividends and other income accruing to the Board; (e) all moneys borrowed by the Board under this Act; (f) all moneys recovered or collected by the Board or any officer or employee of the Board (including sums collected for the composition of offences) under this Act or any other written law administered by the Board; and (g) all other moneys lawfully received by the Board for the purposes of the Board.
Grants-in-aid
s 21
Open ↗21. For the purpose of enabling the Board to carry out its functions under this Act, the Minister may make grants‑in‑aid to the Board of such sums of money, as the Minister may determine, out of moneys to be provided by Parliament.
Borrowing powers
s 22
Open ↗22. The Board may for the purposes of this Act raise loans from the Government or, with the consent of the Minister, from any other source.
Issue of shares, etc.
s 22A
Open ↗22A. As a consequence of the vesting of any property, rights or liabilities of the Government in the Board under this Act, or of any capital injection or other investment by the Government in the Board in accordance with any written law, the Board must issue such shares or other securities to the Minister for Finance as that Minister may direct.
Bank accounts
s 23
Open ↗23. The Board must open and maintain one or more accounts with such bank or banks as the Board thinks fit and every such account must be operated by such person or persons authorised to do so by the Board.
Application of funds
s 24
Open ↗24. The funds of the Board must be applied only in payment or discharge of the expenses, obligations and liabilities of the Board and in making any payment that the Board is authorised or required to make.
Power of investment
s 25
Open ↗25. The Board may invest its funds in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965.[45/2004]
Back to Health Promotion Board Act 2001 — full text
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