Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Funds of Board
28. The funds of the Board consist of —(a) all moneys received by the Board by way of grants; (b) all gifts, donations and contributions to the Board; (c) all fees, commissions, rents, interests, dividends and other income accruing to the Board; (d) all moneys borrowed by the Board under this Act; and (e) all other moneys lawfully received by the Board for the purposes of the Board.[18
Bank accounts and application of moneys
29.—(1) The Board may open and maintain an account or accounts with such bank or banks as the Board thinks fit and every such account must be operated as far as practicable by cheque signed by such person or persons authorised to do so by the Board. (2) The moneys of the Board must be applied only in payment or discharge of the expenses, obligations and liabilities of the Board and in making any payments that the Board is authorised or required to make.[19
Power of investment
30. 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.[20
Power to borrow
31. The Board may from time to time for the purposes of this Act raise loans from the Government or, with the consent of the Minister, from any other source.[21
Issue of shares, etc.
32. 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 from time to time direct.[21A
Grants
33. For the purpose of enabling the Board to carry out its functions under this Act, the Minister may from time to time make grants to the Board of such sums of money as the Minister may determine out of moneys to be provided by Parliament.[22
Establishment of National Library Board Endowment Fund
34.—(1) A fund called the National Library Board Endowment Fund is established, which vests in the Board and consists of —(a) all moneys received by the Board by gifts, bequests or otherwise for the Fund; (b) any contributions to the Fund that the Minister may specify from moneys provided by Parliament; and (c) any other moneys that the Board may decide to transfer to the Fund. (2) The income of the Fund is to be applied for all or any of the following purposes:(a) the provision of training programmes and scholarships for librarians and persons working in libraries; (b) the delivery of lectures by distinguished persons in the field of library and information science; (c) the sponsorship of major library promotional programmes; (d) the financing of research on reading and librarianship; (e) any other purposes consistent with this Act that the Board may decide.[23
Financial year
35. The financial year of the Board begins on 1 April of each year and ends on 31 March of the succeeding year.[24 [5/2018]
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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