ADVANCE ACCOUNTS

3.29 p.m.

The Minister for Finance (Mr Hon Sui Sen): Mr Speaker, Sir, I beg to move the motion* standing in my name as it appears 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 advance is to be increased from $71 million to $188 million.

The purpose of this resolution is to augment the total amount for the Advance Accounts to cope with present and future requirements. The details and reasons for increases are set out in Paper Misc. 5 of 1980 which was presented to this House on the 16th June, 1980.

Additional large amounts of funds are required mainly to cover increasing needs for funds in Building Loans, Conveyance Advances, Miscellaneous Advances, Personal Advances and Salary Advances Accounts, and the Inter-Administration Current Account.

Sir, I beg to move.

Question put, and agreed to.

Resolved,

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 $71 million to $188 million.