Civil Aviation Authority of Singapore (Amendment) Bill

Bill No. 4/2007

Read the first time on 22nd January 2007.

An Act to amend the Civil Aviation Authority of Singapore Act (Chapter 41 of the 1985 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 Civil Aviation Authority of Singapore (Amendment) Act 2007 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

Repeal and re-enactment of section 15

2. Section 15 of the Civil Aviation Authority of Singapore Act is repealed and the following section substituted therefor:

“Power to borrow

15.—(1) For the performance of its functions or discharge of its duties under this Act or any other written law, the Authority may, from time to time, raise loans from the Government or, with the approval of the Minister, raise loans within or outside Singapore from such source as the Minister may direct by —

(a)	mortgage, overdraft or other means with or without security;
(b)	charge, whether legal or equitable, on any property vested in the Authority or on any other revenue receivable by the Authority under this Act or any other written law; or
(c)	the creation and issue of debentures, bonds or any other instrument as the Minister may approve.

(2) For the purposes of this section, the power to raise loans shall include the power to make any financial agreement whereby credit facilities are granted to the Authority for the purchase of goods, materials, things or services.”.

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