Singapore legislation

Clause 8

of Skills Development Levy Bill

Clause 8

Objects of Fund and expenditure of monies of Fund

(1)

The objects for which monies of the Fund may be applied are as follows: —

(a)

the promotion, development and upgrading of skills and expertise of persons in employment;

(b)

the retraining of retrenched persons; and

(c)

the provision of financial assistance by grants, loans or otherwise for the purposes of the above-mentioned objects.

(2)

In carrying out the objects of the Fund, the Minister may from time to time authorise monies of the Fund to be paid out and expended for all or any of the following purposes: —

(a)

for establishing or expanding facilities or assisting in the maintenance of facilities for full-time or part-time training courses and training programmes designed to promote the skills or expertise of persons in employment;

(b)

for the provision of grants or loans to any employer for equipment required for more sophisticated or skilled operations in the conduct of his business;

(c)

for defraying or subsidising the costs incurred by any employer in the training or retraining of his staff to acquire better skills or expertise; and

(d)

for such other purposes as may be prescribed by the Minister.

Read in full context — Skills Development Levy Bill →