Development Loan Bill

Bill No. 15/1972

Read the first time on 7th March 1972.

An Act to authorise a sum of two thousand million dollars to be raised by way of loan for the purposes of the Development Fund.

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —

PART I

PRELIMINARY

Short title

1. This Act may be cited as the Development Loan Act, 1972.

Interpretation

2. In this Act, unless the context otherwise requires —

“advance deposits” means such deposits as are received under the provisions of subsection (1) of section 16 of this Act;

“Authority” means the Monetary Authority of Singapore established under section 3 of the Monetary Authority of Singapore Act (Cap. 195);

“bearer bond” means a bearer bond issued under the provisions of this Act;

“local stock” means any stock issued in Singapore under this Act or under any of the written laws set out in the Schedule to this Act;

“trustee stock” means any of the securities mentioned in any written law for the time being in force relating to trustees.

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