Singapore legislation
Section 18
Section 18
Public Transport Fund
(1)
A Government fund called the Public Transport Fund is established comprising —
all moneys appropriated from the Consolidated Fund and authorised to be paid into the Public Transport Fund by any written law;
all contributions made pursuant to the Council’s direction under section 50(1), and any other donations made by any person for the purposes of the Fund;
all financial penalties imposed, on or after 1 April 2016, by the LTA —
under the Bus Services Industry Act 2015 on a public bus operator for a breach of a condition in the bus service licence; or
under the Rapid Transit Systems Act 1995 on a licensed rapid transit system operator for a breach of a condition in the rapid transit system operator’s licence; and
all investments out of moneys in the Public Transport Fund authorised to be made by this Act and the proceeds of any such investment, including the net income from such investments.
(2)
As from 1 April 2016, the Government must pay into the Public Transport Fund such sum as the Minister for Finance may determine out of moneys to be provided by Parliament for the Public Transport Fund.
(3)
For the purposes of subsection (1)(d), the net income from investments is the amount ascertained by adding to, or deducting from, the income received from investments of moneys in the Public Transport Fund, any profit derived or loss sustained (as the case may be) from the realisation of such investments.[11A