Singapore legislation
Section 11
Section 11
Investment
(1)
The Agency may invest any moneys in the Fund in one or more of the following:
any security issued by the Government;
Singapore dollar deposits with the Authority;
such other investments, with the objects of capital preservation and maintenance of liquidity, as may be approved by the Minister.
(2)
The Agency may delegate, on such conditions or restrictions as it thinks fit, all or any of its powers and functions under subsection (1) to any employee or agent as it may appoint.
(3)
The Agency may pay to any person appointed under subsection (2) a reasonable fee for any service rendered in exercise of any power and function delegated to that person under that subsection.
(4)
The Agency may continue to exercise any power conferred upon it or perform any function under this Act notwithstanding the delegation of such power or function to an employee or agent under this section.[MAS 1999 Ed., s. 30 (2) and (3)]