Singapore legislation

Section 5

of Skills Development Levy Act 1979

Section 5

Establishment of Fund

Amended by24/2016

(1)

On 1 October 1979, a Fund called the Skills Development Fund is established.

(2)

The Fund consists of —

(a)

the proceeds of the skills development levy collected under this Act;

(b)

all penalties, fines and costs recovered from proceedings under this Act;

(c)

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;

(d)

all donations and gifts accepted by the Agency for the Fund;

(e)

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

(f)

any interest, dividends and other income derived from the investment of moneys in the Fund.

Amended by24/2016
Section 5 — Skills Development Levy Act 1979 | laws.sg