Financial Procedure Act 1966

Financial Procedure Act 1966

2020 REVISED EDITION

This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021

An Act to provide for the control and management of the public finances of Singapore, and for financial and accounting procedure, including procedure for the collection, custody and payment of the public moneys of Singapore, and the purchase, custody and disposal of public property of Singapore and for matters connected therewith.

[9 August 1965]

PART 1

PRELIMINARY

Short title

1.  This Act is the Financial Procedure Act 1966.

Interpretation

2.—(1)  In this Act, unless the context otherwise requires —

“accounting officer” includes every public officer who is charged with the duty of collecting, receiving, or accounting for, or who in fact collects, receives or accounts for, any public moneys, or who is charged with the duty of disbursing, or who does in fact disburse, any public moneys, and every public officer who is charged with the receipt, custody or disposal of, or the accounting for, public stores or who in fact receives, holds or disposes of public stores;

“Consolidated Fund” means the Consolidated Fund constituted by Article 145 of the Constitution;

“financial year” means a period of 12 months ending on 31 March in any year;

“public moneys” means all revenue, loan, trust and other moneys and all bonds, debentures, and other securities whatsoever raised or received by or on account of Singapore;

“public stores” means chattels which are the property of or in the possession of or under the control of Singapore;

“statutory expenditure” has the meaning given by Article 148(4) of the Constitution;

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

[15/2021]

(2)  Unless expressly provided otherwise in this Act, any word or expression in this Act that is defined in sections 2 and 11 of the Significant Infrastructure Government Loan Act 2021 has the meaning given to the word or expression by those sections.

[15/2021]