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Public Trustee (Amendment) Ordinance

Bill No. 136/1961

Read the first time on 12th April 1961.

An Ordinance to amend the Public Trustee Ordinance (Chapter 32 of the Revised Edition).

Be it enacted by the Yang di-Pertuan Negara with the advice and consent of the Legislative Assembly of Singapore, as follows: —

Short title

1. This Ordinance may be cited as the Public Trustee (Amendment) Ordinance, 1961.

Amendment of section 6

2. Subsection (7) of section 6 of the Public Trustee Ordinance is hereby deleted and the following substituted therefor: —

“(7) Where any trust money which is not included in the investment account of the Common Fund is normally insufficient to earn bank interest if kept in a bank current account the money may be kept in a general banking account or deposited in any bank and any interest allowed by the bank shall be paid into the Consolidated Fund.”.

Amendment of section 14

3. Subsection (4) of section 14 of the Public Trustee Ordinance is hereby amended by deleting the word “February” appearing in the first line thereof and substituting therefor the words “April or such later month as the Minister may appoint for that purpose”.