Government Borrowing (Miscellaneous Amendments) Bill

Government Borrowing
(Miscellaneous Amendments) Bill

Bill No. 32/2021

Read the first time on 4 October 2021.

An Act to amend certain Acts to consolidate borrowing by the Government for debt market and investment purposes, to repeal the External Loans Act, the Local Treasury Bills Act and the Treasury Deposit Receipts Act, and to make consequential amendments to certain other Acts.

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 is the Government Borrowing (Miscellaneous Amendments) Act 2021 and comes into operation on a date that the Minister appoints by notification in the Gazette.

PART 1

AMENDMENTS TO DEVELOPMENTAL
INVESTMENT FUND ACT

Amendment of long title

2. The long title to the Developmental Investment Fund Act is amended by deleting the words “, to authorise the raising of loans for the Developmental Investment Fund”.

Amendment of section 2

3. Section 2 of the Developmental Investment Fund Act is amended —

(a)	by deleting the semi‑colon at the end of the definition of “securities” and substituting a full‑stop; and
(b)	by deleting the definition of “sinking fund”.

Amendment of section 3

4. Section 3(1) of the Developmental Investment Fund Act is amended by deleting paragraph (b).

Amendment of section 7

5. Section 7 of the Developmental Investment Fund Act is amended by deleting subsection (2).

Repeal of Part III

6. Part III of the Developmental Investment Fund Act is repealed.

Amendment of section 20

7. Section 20 of the Developmental Investment Fund Act is amended —

(a)	by inserting the word “and” at the end of paragraph (a); and
(b)	by deleting paragraph (b).

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