National Environment Agency (Amendment) Bill

The Bill amends the National Environment Agency Act to expand NEA's borrowing powers beyond current restrictions.
It allows NEA to raise loans from the Government, from other sources with Finance Minister approval, and to make financial agreements for credit facilities.
The amendment aligns NEA's borrowing flexibility with other statutory boards like PUB and HDB to optimize financing costs.
The Bill was read a second time, committed to committee, considered, reported without amendment, and passed by Parliament.

Order for Second Reading read.

The Senior Minister of State for the Environment and Water Resources (Dr Amy Khor Lean Suan) (for the Minister for the Environment and Water Resources): Mr Deputy Speaker, on behalf of the Minister for the Environment and Water Resources, I beg to move, "That the Bill be now read a Second time".

The Bill seeks to amend the National Environment Agency, or NEA, Act to expand NEA's borrowing powers.

The current provisions in the NEA Act limit NEA's borrowing sources to either the Government, or, with the approval of the Minister for Finance, banks or other financial institutions. Hence, NEA is currently not able to, for example, borrow directly from the capital markets.

This amendment will provide NEA with greater flexibility in borrowing by widening the options of funding sources, thereby optimising financing costs. This is in line with the borrowing powers of other Statutory Boards such as the PUB, the Singapore Food Agency, JTC Corporation, and the Housing and Development Board.

Mr Deputy Speaker, Sir, I will now like to highlight the key provisions of the Bill.

Section 23 of the NEA Act sets out the power for NEA to borrow. Clause 2 of the Bill will repeal and re-enact section 23 of the NEA Act to allow NEA to (a) raise loans from the Government; (b) raise loans from another source within or outside Singapore, with the approval of the Minister for Finance; and (c) make financial agreements under which credit facilities are granted to the agency for the purchase of goods, materials, or things.

To conclude, Sir, this Bill will align the borrowing powers of NEA with those of other Statutory Boards in Singapore, to widen the options of funding sources and provide greater flexibility in borrowing. This will ensure that NEA is able to optimise the financing costs of any future borrowing. Mr Deputy Speaker, I beg to move.

*Question put, and agreed to. (proc text)]

*Bill accordingly read a Second time and committed to a Committee of the whole House. (proc text)]

*The House immediately resolved itself into a Committee on the Bill. – [Dr Amy Khor Lean Suan]. (proc text)]

Bill considered in Committee; reported without amendment; read a Third time and passed.

The Bill amends the National Environment Agency Act to expand NEA's borrowing powers beyond current restrictions.
It allows NEA to raise loans from the Government, from other sources with Finance Minister approval, and to make financial agreements for credit facilities.
The amendment aligns NEA's borrowing flexibility with other statutory boards like PUB and HDB to optimize financing costs.
The Bill was read a second time, committed to committee, considered, reported without amendment, and passed by Parliament.

The Bill amends the National Environment Agency Act to expand NEA's borrowing powers beyond current restrictions.
It allows NEA to raise loans from the Government, from other sources with Finance Minister approval, and to make financial agreements for credit facilities.
The amendment aligns NEA's borrowing flexibility with other statutory boards like PUB and HDB to optimize financing costs.
The Bill was read a second time, committed to committee, considered, reported without amendment, and passed by Parliament.

Order for Second Reading read.

The Bill seeks to amend the National Environment Agency, or NEA, Act to expand NEA's borrowing powers.

Mr Deputy Speaker, Sir, I will now like to highlight the key provisions of the Bill.

*Question put, and agreed to. (proc text)]

*Bill accordingly read a Second time and committed to a Committee of the whole House. (proc text)]

*The House immediately resolved itself into a Committee on the Bill. – [Dr Amy Khor Lean Suan]. (proc text)]

Bill considered in Committee; reported without amendment; read a Third time and passed.

The Bill amends the National Environment Agency Act to expand NEA's borrowing powers beyond current restrictions.
It allows NEA to raise loans from the Government, from other sources with Finance Minister approval, and to make financial agreements for credit facilities.
The amendment aligns NEA's borrowing flexibility with other statutory boards like PUB and HDB to optimize financing costs.
The Bill was read a second time, committed to committee, considered, reported without amendment, and passed by Parliament.

National Environment Agency (Amendment) Bill

Summary

Questions Identified

Full Transcript

The Senior Minister of State for the Environment and Water Resources (Dr Amy Khor Lean Suan)

Summary

Questions Identified

National Environment Agency (Amendment) Bill

Summary

Questions Identified

Full Transcript

The Senior Minister of State for the Environment and Water Resources (Dr Amy Khor Lean Suan)

Summary

Questions Identified