4. The principal objects of the Authority shall be —
(a)
to act as banker to, and financial agent of, the Government;
(b)
to promote, within the context of the general economic policy of the Government, monetary stability and credit and exchange conditions conducive to the growth of the economy;
(c)
to foster a sound and progressive financial services sector; and
(d)
to exercise the powers and to perform the duties and functions that are transferred to the Authority under section 21.
[30/2004 wef 12/10/2004]
[28/98]
Informal Consolidation | Amended Act 31 of 2017
Principal objects and functions of Authority
4.—(1) The principal objects of the Authority shall be —
(a)
to maintain price stability conducive to sustainable growth of the economy;
(b)
to foster a sound and reputable financial centre and to promote financial stability;
[Act 9 of 2013 wef 18/04/2013]
(c)
to ensure prudent and effective management of the official foreign reserves of Singapore; and
(d)
to grow Singapore as an internationally competitive financial centre.
[13/2007 wef 30/06/2007]
(1A) The Authority, when giving effect to its objects under subsection (1), is to act on the basis that the object in paragraph (b) prevails over the object in paragraph (d) of that subsection.
[Act 31 of 2017 wef 15/08/2017]
(2) The functions of the Authority shall be —
(a)
to act as the central bank of Singapore, conduct monetary policy, issue currency, oversee payment systems and serve as banker to and financial agent of the Government;
[Act 9 of 2013 wef 18/04/2013]
(b)
to conduct integrated supervision of the financial services sector and financial stability surveillance;
[Act 9 of 2013 wef 18/04/2013]
(c)
to manage the official foreign reserves of Singapore; and
(d)
to develop Singapore as an international financial centre.