Development Loan Bill

Bill No. 59/1966

Read the first time on 12th December 1966.

An Act to authorise a sum of one 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 and commencement

1.—(1) This Act may be cited as the Development Loan Act, 1966, and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

(2) The Minister may appoint different dates for the coming into operation of different provisions of this Act.

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 17 of this Act;

“Bank” means the Bank appointed under section 11 of this Act;

“Crown Agents” means the Crown Agents for Oversea Governments and Administrations in England;

“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;

“Treasury” means the Minister charged with the responsibility for finance and includes any officer under the administrative control or direction of the Minister.

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