ADVANCE ACCOUNTS

7.13 p.m.

The Minister of State for Finance (Mr Tang See Chim): Mr Speaker, Sir, I beg to move the motion+ standing in the name of the Minister for Finance on the Order Paper.

• The motion reads as follows:

`That this Parliament, pursuant to section 9 of the Financial Procedure Act (Chapter 68), resolves that the total amount of moneys which are approved to be paid out of the Consolidated Fund for the purpose of making advances is to be increased from $43,172,019 to $71 million.'

The purpose of this motion is to augment the total amount for the Advance Accounts to cope with the present and future requirements. The details and reasons for the increases are set out in detail in Paper Misc. No. 4 of 1971, which was presented to this House on 23rd September, 1971.

Additional large amounts of funds are required mainly to cover increasing needs for funds in three accounts, namely, Building Loans, Conveyance Advances, and Recoverable Costs. Increases for other items are needed to meet normal growth of requirements.

Sir, I beg to move.

Question put, arid agreed to.

Resolved,

That this Parliament, pursuant to section 9 of the Financial Procedure Act (Chapter (8), resolves that the total amount of moneys which are approved to be paid out of the Consolidated Fund for the purpose of making advances is to be increased from $43,172,019 to $71 million.