Page:Casino Control Act 2006.pdf/26

26 the Authority under this Act shall be paid into and form part of the moneys of the Authority.

Grants-in-aid

21. For the purpose of enabling the Authority to perform its functions and discharge its duties under this Act, the Minister may, from time to time, make grants-in-aid to the Authority of such sums of money, as the Minister may determine, out of moneys to be provided by Parliament.

Power to borrow

22.—(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 or things.

Issue of shares, etc.

23. As a consequence of the vesting of any property, rights or liabilities of the Government in the Authority under this Act, or of any capital injection or other investment by the Government in the Authority in accordance with any written law, the Authority shall issue such shares or other securities to the Minister for Finance as that Minister may, from time to time, direct.

Bank account

24.—(1) The Authority shall open and maintain an account with such bank as the Authority thinks fit.