§ 4 — Power to raise loan

4.—(1) The Minister may raise, in the manner provided in this Act, loans to be applied in the manner provided in this Act and the Development Fund Act 1959.(2) The power to raise loans under this section does extend to raising money outside of Singapore and in a currency other than the Singapore dollar.

(3) To avoid doubt, this Act does not limit any borrowing by —(a)

entering into a hire‑purchase agreement or an arrangement that is of the same or a substantially similar nature;

(b)

entering into a lease or an arrangement that is of the same or substantially similar nature;

(c)

accepting debt on assignment; or

(d)

purchasing of goods or services on credit for a period of less than 90 days.

—(1) The Minister may raise, in the manner provided in this Act, loans to be applied in the manner provided in this Act and the Development Fund Act 1959.

(2) The power to raise loans under this section does extend to raising money outside of Singapore and in a currency other than the Singapore dollar.

(3) To avoid doubt, this Act does not limit any borrowing by —(a)

entering into a hire‑purchase agreement or an arrangement that is of the same or a substantially similar nature;

(b)

entering into a lease or an arrangement that is of the same or substantially similar nature;

(c)

accepting debt on assignment; or

(d)

purchasing of goods or services on credit for a period of less than 90 days.