Singapore legislation
Section 20
Section 20
Capital moneys of ElderCare Fund
(1)
As from 27 March 2000, a sum that the Minister for Finance may determine out of moneys to be provided by Parliament must be paid into the ElderCare Fund as capital moneys.
(2)
The Minister for Finance may, from time to time, after 27 March 2000 pay into the ElderCare Fund such sums of capital money as the Minister may determine out of moneys to be provided by Parliament.
(3)
Despite the terms of any gift or bequest, all gifts and bequests given or made for the purposes of the ElderCare Fund must be paid into the Fund as capital moneys.
(4)
The capital moneys of the ElderCare Fund must not be used for any purpose other than for investment.
(5)
Where at any time there is a permanent diminution of the capital moneys of the ElderCare Fund, the Minister must, before paying out the income of the ElderCare Fund, make good such diminution from that income.