Singapore legislation
Section 49
Section 49
Use of funds for political purposes and investment of those funds
(1)
The funds of a registered trade union —
shall not be applied either directly or indirectly in payment of contributions to a political party or for a political purpose; and
shall, subject to the rules thereof and the provisions of this Act, be invested only in —
investments authorised by law for the investment of trust money;
interest-earning deposits in banks or finance companies;
shares of co-operative societies established by any registered trade union; or
such undertaking, enterprise or scheme, the promoter or proprietor of which is the Singapore Labour Foundation or a company formed by or related to the Singapore Labour Foundation, as the Minister may approve for the purposes of this paragraph.
(2)
Subsection (1)(b)(i), (ii) and (iii) shall not render unlawful the investment of the funds of a registered trade union which was lawfully made before 2 April 1983.
(3)
In this section, “Singapore Labour Foundation” means the Singapore Labour Foundation established under section 3 of the Singapore Labour Foundation Act 1977.
(4)
For the purposes of this section, a company shall be deemed related to the Singapore Labour Foundation if it is related thereto within the meaning of section 6 of the Companies Act 1967.