Singapore legislation
Section 5
Section 5
Establishment of Fund
(1)
On 1 October 1979, a Fund called the Skills Development Fund is established.
(2)
The Fund consists of —
the proceeds of the skills development levy collected under this Act;
all penalties, fines and costs recovered from proceedings under this Act;
all moneys contributed by the Government to the Fund under section 6 and such other contributions to the Fund as the Minister may specify from moneys provided by Parliament;
all donations and gifts accepted by the Agency for the Fund;
all honorariums and other payments accepted by the Agency for any services rendered by the Agency in connection with the performance of its functions under this Act; and
any interest, dividends and other income derived from the investment of moneys in the Fund.