Town Councils Financial (Amendment) Rules 1996

Status:

Published in Subsidiary Legislation Supplement
on 29 Nov 1996

No. S 517

Town Councils Act

(Chapter 329a)

Town Councils Financial (Amendment) Rules 1996

In exercise of the powers conferred by section 42 of the Town Councils Act, the Minister for National Development hereby makes the following Rules:

1. These Rules may be cited as the Town Councils Financial (Amendment) Rules 1996 and shall come into operation on 1st December 1996.

2. The Town Councils Financial Rules (R 1) are amended by inserting, immediately after rule 4, the following rule:

“Transfer of surpluses to sinking funds

4A.—(1) For the purposes of section 33A(1) of the Act, the surpluses in —

(a)	any fund (other than a sinking fund) established for the management and maintenance of residential property, market and food centres and other commercial property within the Town shall be transferred to the sinking fund established for that residential property, market and food centres and other commercial property, respectively; and
(b)	any fund for the maintenance of parking places within the Town shall be transferred to the sinking fund established for the management and maintenance of residential property in the Town.

(2) Where a writ of election is issued in respect of any constituency —

(a)	the area of which forms wholly or partly the area of a Town; or
(b)	part of which forms the area of a Town,

the Town Council for the Town shall, within 90 days after the issue of the writ, prepare and cause to be audited a full and particular Statement of Transferable Surpluses showing the excess of revenue over expenditure in any fund (other than a sinking fund) of the Town Council relating to that area less —

(i)	the fixed assets owned by the Town Council on the day immediately before the writ is issued; and
(ii)	the amounts necessary to meet any capital commitments made or entered into by the Town Council on or before that same day in relation to that area.

(3) In paragraph (2), “capital commitment”, in relation to any area of a Town, means any one or more contracts made or entered into by the Town Council for that Town for the purpose of carrying out any improvement works within that area of the Town, whether or not those works have been completed and fully-paid for at the material time.”.

Made this 26th day of November 1996.

LAM CHUAN LEONG

Permanent Secretary,
Ministry of National Development,
Singapore.

[ND 311/4-146 Pt. 59 V13; AG/LEG/SL/329A/96/1]

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