Singapore Totalisator Board (Amendment) Bill

Bill No. 33/1990

Read the first time on 9th November 1990.

An Act to amend the Singapore Totalisator Board Act (Chapter 305A of the 1988 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 Singapore Totalisator Board (Amendment) Act 1990 and shall be deemed to have come into operation on 1st April 1990.

Repeal and re-enactment of section 9

2. Section 9 of the Singapore Totalisator Board Act is repealed and the following section substituted therefor:

“Investments

9. Moneys belonging to the Board may be invested in such stocks, funds, securities or investments as may be authorised by the Minister.”.

Amendment of Second Schedule

3. The Second Schedule to the Singapore Totalisator Board Act is amended —

(a)

by deleting the word “through” in paragraph 7 and substituting the words “and to”; and

(b)

by inserting, immediately after paragraph 14, the following paragraphs:

“15. The Board shall, as soon as practicable after the end of each financial year, cause to be prepared and transmitted to the Minister a report dealing generally with the activities of the Board during the preceding financial year and containing such information relating to the proceedings and policy of the Board as the Minister may, from time to time, direct.

16. The Minister shall as soon as practicable cause a copy of every such report to be presented to Parliament.”.

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