Financial year
s 18
Open ↗18. The financial year of the Authority begins on 1 April of each year and ends on 31 March of the succeeding year.
Source
Health Sciences Authority 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 ↗
Estimates
s 19
Open ↗19. A summary of the annual estimates and supplementary estimates adopted by the Authority must be published in the Gazette.
Funds of Authority
s 20
Open ↗20. The funds of the Authority consist of —(a) all moneys transferred to the Authority under section 30; (b) all moneys received by the Authority by way of grants or subsidies; (c) all gifts, donations and contributions to the Authority; (d) all fees, charges, commissions, rents, interests, dividends and other income accruing to the Authority; (e) all moneys borrowed by the Authority under this Act; (f) all moneys recovered or collected by the Authority or any officer or employee of the Authority (including sums collected for the composition of offences) under this Act or any other written law administered by the Authority; and (g) all other moneys lawfully received by the Authority for the purposes of the Authority.
Grants-in-aid
s 21
Open ↗21. For the purpose of enabling the Authority to carry out its functions under this Act, the Minister may make grants‑in‑aid to the Authority 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 Authority 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 Authority under this Act, or of any capital injection or other investment by the Government in the Authority in accordance with any written law, the Authority must issue such shares or other securities to the Minister for Finance as that Minister may direct.
Bank accounts
s 23
Open ↗23. The Authority must open and maintain one or more accounts with such bank or banks as the Authority thinks fit and every such account must be operated by such person or persons authorised to do so by the Authority.
Application of funds
s 24
Open ↗24. The funds of the Authority must be applied only in payment or discharge of the expenses, obligations and liabilities of the Authority and in making any payment that the Authority is authorised or required to make.
Power of investment
s 25
Open ↗25. The Authority 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 Sciences Authority Act 2001 — full text
Provisions on this page are reproduced verbatim from official open data. See the attribution line.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
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