Singapore legislation

Clause 11

of National Productivity Board (Amendment) Bill

Clause 11

Amendment of section 21

Section 21 of the principal Act is amended —

(a)

by inserting, immediately after paragraph (f) of subsection (1), the following paragraph:“(fa)all moneys, dividends or income received from any transactions made pursuant to the powers conferred on the Board by this Act;”; and

(b)

by deleting subsection (2) and substituting the following subsection:“(2) Subject to the terms of any trust or endowment, any money belonging to the Board and available for investment may be invested in such securities as trustees may by any written law be authorised to invest or, with the written approval of the Minister, in any other securities or investments.”.

Read in full context — National Productivity Board (Amendment) Bill →