Singapore legislation
Section 14
Section 14
Establishment and administration of Fund
(1)
There shall be established a fund to be called the Singapore Rubber Fund (referred to in this Act as the Fund) which shall be controlled and administered by the Committee, subject to the directions of the Minister.
(2)
All moneys received by the Committee from any source whatsoever including the proceeds of any cess as is referred to in section 15 shall be paid into the Fund.
(3)
The Fund shall be devoted to the following purposes:
the payment of the expenses of, or connected with the administration of the Committee; and
the payment of all expenses necessary for carrying out the purposes of this Act.
(4)
This section shall not apply to any fund established and maintained by the Association to be used for the purpose of compensating persons who suffer pecuniary loss from any defalcation committed by any member of the Association in the course of or in connection with their business.[13