Singapore legislation
Section 12
Section 12
Funds and property of Authority
(1)
The funds and property of the Authority consist of —
all grants-in-aid made under section 17;
all fees and other sums collected by the Authority or its officers under any written law unless otherwise expressly provided in subsection (2) or that other written law;
all moneys paid to the Authority for the purposes of the Authority;
all moneys paid to the Authority by way of grants, subsidies, donations, gifts and contributions;
all moneys received by the Authority by way of charges and fees for services rendered by the Authority to any person;
all moneys, dividends, royalties, interest or income received from any transaction made pursuant to the powers conferred on the Authority under this Act or any other written law;
all moneys borrowed by the Authority under this Act;
all other moneys and property lawfully received by the Authority for the purposes of the Authority; and
all accumulations of income derived from any such property or money.
(2)
The following sums collected on or after 15 May 2015 by the Authority or any of its officers under this Act and any written law specified in the Second Schedule must be paid into the Consolidated Fund:
any penalty for late payment or late filing;
any financial penalty, and interest for late payment of the financial penalty;
any sum for the composition of any offence.
(3)
The Authority may recover on behalf of the Government any sum referred to in subsection (2)(a), (b) or (c) as though the sum were a civil debt due to the Authority.
(4)
The Authority may waive, refund or remit, wholly or in part, any fee that is paid or is payable to the Authority under any written law and which forms or would form part of the funds and property of the Authority under subsection (1).[13