23 Apr '16, 8am

#Singapore #Statutes Online #Monetary #Authority act the #Central #Bank Singa

by inserting, immediately after subsection (2), the following subsections: “ (3) In subsection (1), a reference to the purchase of any securities or Treasury bills includes subscribing for such securities or Treasury bills. (4) Notwithstanding subsection (1), the Authority shall not grant any loan, advance, overdraft or other credit facility to the Government, or underwrite any loan to the Government, unless the Authority is satisfied that such loan, advance, overdraft or credit facility is required by the Government to meet unexpected and temporary shortfall in the Government’s revenue relative to its expenditure. (5) Notwithstanding subsection (1), the Authority shall not directly subscribe for any securities issued by the Government or any public authority. (6) Subsection (5) shall not apply to any subscription for debt securities issued by the Government or any public ...

Full article: http://statutes.agc.gov.sg/aol/search/display/view.w3p;pa...

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