Singapore legislation
Section 19
Section 19
Purposes of Public Transport Fund
(1)
Subject to section 25, the moneys in the Public Transport Fund may be withdrawn only for the following purposes:
to provide (directly to individuals or through organisations) cash grants, rebates, reliefs and other financial assistance to passengers using bus services or train services;
to invest subject to the limits in the Financial Procedure Act 1966 for investments of public moneys;
to meet expenses referred to in section 20 incidental to or arising from the administration, investment and management of moneys in the Public Transport Fund.
(2)
For the purposes of subsection (1)(b), investing includes engaging in any financial activity, or participating in any financial arrangement, for the purpose of managing or hedging against any financial risk that arises or is likely to arise from any investment.[11B