Local Government Integration (Amendment) Bill

Bill No. 27/1981

Read the first time on 23rd October 1981.
An Act to amend the Local Government Integration Act (Chapter 210 of the Revised Edition).
Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —
Short title and commencement
1.  This Act may be cited as the Local Government Integration (Amendment) Act, 1981, and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.
Amendment of section 102
2.  Section 102 of the Local Government Integration Act (referred to in this Act as the principal Act) is amended by deleting the words “six per cent” in subsection (8) and substituting the words “eleven per cent”.
Amendment of section 103
3.  Section 103 of the principal Act is amended by deleting the words “six per cent” in the ninth and tenth lines of subsection (1) and substituting the words “eleven per cent”.
New section 103A
4.  The principal Act is amended by inserting, immediately after section 103, the following section: —
Minister may vary rates of interest
103A.  The Minister may, at any time by notification in the Gazette, vary the rates of interest prescribed in subsection (8) of section 102 and subsection (1) of section 103 of this Act.”.