Singapore legislation
Clause 2
of Timber Export Industry Board (Incorporation) (Amendment) Bill
Clause 2
New section 20A
The Timber Export Industry (Incorporation) Board Act is hereby amended by inserting immediately after section 20 thereof the following new section: —“Power to invest20A.—
The Board may from time to time invest any part of the Fund, not immediately required to be expended in the meeting of the obligations or in the discharge of the functions of the Board, in investments or securities authorised for the investment of trust funds by any written law for the time being in force.(2) Notwithstanding the provisions of subsection (1) of this section, the Minister may direct the Board to invest any such part of the Fund in such of the investments or securities mentioned in subsection (1) of this section as he may think fit.”.