Singapore legislation
Clause 12
Clause 12
Fund
(1)
There shall be established and maintained by the Commission a Fund into which all monies of the Commission shall be paid.
(2)
The Minister may from time to time make grants to the Fund of such sums as he may determine.
(3)
All monies in the Fund shall be deposited in a bank by the Commission, or the Commission may from time to time invest such monies in any of the securities in which trust funds may by section 4 of the Trustees Act (Cap. 40) be invested.
(4)
The Commission shall have full power to manage and expend the monies received by the Commission for the purposes set out in this Act.