Corporation’s financial year
s 24
24. The financial year of the Corporation begins on 1 April each year and ends on 31 March of the following year.[23/87; 2/2020]
Singapore Corporation of Rehabilitative Enterprises Act 1975 PART 6 — FINANCIAL PROVISIONS
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
Expenses
s 25
25. All expenses incurred in carrying out the purposes of this Act are to be met from the funds of the Corporation.
Minister’s approval of estimates
s 26
26.—(1) A copy of all annual estimates of revenue and expenditure and supplementary estimates must, upon their adoption by the Corporation, 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 Corporation, and the Corporation is bound by the Minister’s decision.[5/2018] (4) The estimates as approved by the Minister must be published in the Gazette.[5/2018]
Grants
s 27
27. For the purpose of enabling the Corporation to carry out its functions under this Act, the Minister may make grants to the Corporation of such sums of money as the Minister may determine out of moneys to be provided by Parliament.
Loans
s 28
28. The Corporation may for the purposes of this Act, raise loans from the Government or, with the Minister’s consent, from any source.
Issue of shares, etc.
s 28A
28A. As a consequence of the vesting of any property, rights or liabilities of the Government in the Corporation under this Act, or of any capital injection or other investment by the Government in the Corporation in accordance with any written law, the Corporation must issue such shares or other securities to the Minister for Finance as that Minister may direct.[5/2002]
Power of investment
s 29
29. The Corporation 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]
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