Financial year
s 19
Open ↗19. The financial year of the Agency begins on 1 April of each year and ends on 31 March of the succeeding year.
Source
National Environment Agency Act 2002 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 20
Open ↗20.—(1) A copy of all annual estimates of revenue and expenditure and supplementary estimates must, upon their adoption by the Agency, 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 Agency, and the Agency is bound by the Minister’s decision.[5/2018] (4) Despite any provision of this section, the Agency 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.
All moneys recovered to be paid to Agency
s 21
Open ↗21. All moneys recovered or charges collected under this Act must be paid into and form part of the moneys of the Agency.[11/2019]
Grants
s 22
Open ↗22. For the purpose of enabling the Agency to carry out its functions under this Act, the Minister may make grants to the Agency of such sums of money as the Minister may determine out of moneys to be provided by Parliament.
Borrowing power
s 23
Open ↗23.—(1) The Agency cannot raise loans for the performance of its functions under this Act or any other Act administered by the Agency except in accordance with this section.[7/2020] (2) Subject to subsection (3), the Agency may raise loans by —(a) mortgage, overdraft or other means, with or without security; (b) charge, whether legal or equitable, on any property vested in the Agency or on any other revenue receivable by the Agency under this Act or any other written law; or (c) the creation and issue of debentures, bonds or any other instrument as the Minister for Finance may approve. [7/2020] (3) The Agency may raise loans —(a) from the Government; or (b) with the approval of the Minister for Finance, from another source, whether within or outside Singapore. [7/2020] (4) For the purposes of this section, the power to raise loans includes the power to make any financial agreement under which credit facilities are granted to the Agency for the purchase of goods, materials or things.[7/2020]
Issue of shares, etc.
s 24
Open ↗24. As a consequence of the vesting of any property, rights or liabilities of the Government in the Agency under this Act, or of any capital injection or other investment by the Government in the Agency in accordance with any written law, the Agency must issue such shares or other securities to the Minister for Finance as that Minister may direct.
Bank accounts
s 25
Open ↗25.—(1) The Agency must open and maintain an account with such bank or banks as the Agency thinks fit.(2) Every such account must be operated by such person authorised to do so by the Agency. —(1) The Agency must open and maintain an account with such bank or banks as the Agency thinks fit. (2) Every such account must be operated by such person authorised to do so by the Agency.
Application of moneys
s 26
Open ↗26. The moneys of the Agency must be applied only in payment or discharge of the expenses, obligations and liabilities of the Agency and in making any payment that the Agency is authorised or required to make.
Power of investment
s 27
Open ↗27. The Agency may invest its moneys in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965.[45/2004]
Back to National Environment Agency Act 2002 — 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.
The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.
What to look at next
National Environment Agency Act 2002, full textChapter navigation and full text, so you can read this section in contextSingapore legislationSingapore Acts by type and yearGrouped by instrument type and year of enactment, so you can find others of the same kindBrowse by type and yearSingapore: what this database coversWhich datasets are here, which official source they come from, and how current they areSingapore overview