SUPPLY BILL

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SUPPLY BILL: Order for Second and Third Readings read.

Mr Tharman Shanmugaratnam: Mr Speaker, Sir, I beg to move, "That the Bill be now read a Second time."

In accordance with Article 148(1) of the Constitution, Heads of Expenditure to be met from the Consolidated Fund and

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Development Fund, other than statutory expenditure, have to be included in the Supply Bill. The purpose of the Supply Bill before Members is therefore to give legislative approval for the appropriations from the Consolidated Fund and Development Fund to meet the expenditure in the Financial Year, 1st April, 2010 to 31st March, 2011. Members may also wish to note in the context of the appropriation from the Development Fund, that $25.6 million shall be met from the existing provision for the Government's share of potential loan losses incurred from loans granted between 1st February 2009 and 31st January 2010 under the Special Risk-Sharing Initiative Scheme. The Heads of Expenditure and the sums that may be incurred in respect of each Head are shown in the Schedule to the Bill. These have been approved by the House in the Main and Development Estimates of Expenditure for the financial year 1st April, 2010 to 31st March, 2011, and appear on pages 6 and 7 of Command Paper No. 1 of 2010.

The Supply Bill, when approved, will empower me to issue warrants authorising expenditure up to the amount for each Head as shown in the Bill to be paid out from the Consolidated Fund and Development Fund.

Sir, I beg to move.

Question put, and agreed to.

Bill accordingly read a Second time.

Third Reading:

Mr Tharman Shanmugaratnam: Mr Speaker, Sir, I beg to move, "That the Bill be now read a Third time."

Question put, and agreed to.

Bill accordingly read a Third time and passed.