[6], As a component of the legislature together with Parliament, the president is also jointly vested with legislative authority. If not, the overseas votes may be decisive. Rejected and tendered votes are excluded. If the chairman of the Council of Presidential Advisers is not available, the speaker of the Parliament performs the duties of the president. [30] The president also possesses personal discretion to withhold assent to any bill in Parliament providing directly or indirectly for the direct or indirect variation, changing or increase in powers of the Central Provident Fund Board to invest moneys belonging to it;[31] and the borrowing of money, the giving of any guarantee or the raising of any loan by the Government if in the president's opinion the bill is likely to draw on reserves not accumulated by the Government during its current term of office. The person elected to the office of president assumes office on the day his predecessor ceases to hold office or, if the office is vacant, on the day following his election. 19(2)(c) read with Art. This allowance is used to cover the maintenance of the Istana, vehicles, utilities and other supplies, as well as for ceremonies and celebrations. The eighth and current president, Halimah Yacob, took office on 14 September 2017, becoming the first president elected as she was the sole eligible candidate under the new reform terms which took effect earlier that year. Assuming a writ for a presidential election has not yet been issued before the vacation of office or, if it has been issued, has been, Constitution, Art. S.R. [35] The president has certain powers of oversight over the Corrupt Practices Investigation Bureau[36] and decisions of the Executive under the Internal Security Act[37] and the Maintenance of Religious Harmony Act. [74], During the election period, a candidate may not spend more than $600,000 or 30 cents for each person on the electoral register, whichever is greater. On five days each year, visitors are welcomed to explore the extensive and verdant grounds of the Istana, enjoy performances and participate in various organised activities. Constitution, Art. Halimah was sworn in on 14 September 2017 as the 8th President at The Istana. The President of the Republic of Singapore is the country's head of state. It consists of Singapore Island and some 60 small islets. Presidents have also used the office to champion charitable causes. Before 1993, the president was chosen by the Parliament of Singapore. 21(2)(e), 21(2)(f), 22B and 22D. S.R. President Emeritus. Ed. Wee Kim Wee was the first president to exercise custodial powers pursuant to the constitutional amendments of 1991. [32] In addition, the president may withhold assent to any Supply Bill, Supplementary Supply Bill or Final Supply Bill for any financial year if in his or her opinion the estimates of revenue and expenditure, supplementary estimates or statement of excess are likely to lead to a drawing on past reserves. [38], The term of office of the first elected president, Ong Teng Cheong (1993–1999), was marked by differences between him and the Government concerning the extent of his discretionary fiscal powers. [63], The procedure for elections is laid out in the Presidential Elections Act. The president must not be a member of any, The president must have for a period of not less than three years held office —, as the most senior executive of a company with an average of $500 million in, in any other similar or comparable position of seniority and responsibility in any other organisation or department of equivalent size or complexity in the. 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