Singapore legislation

Clause 5

of Skills Development Levy (Amendment) Bill

Clause 5

Repeal and re-enactment of section 9

Section 9 of the principal Act is repealed and the following section substituted therefor:“Transfer to Board of moneys in Fund and administration of Fund9.—

(1)

Upon the commencement of the Skills Development Levy (Amendment) Act 1996, all moneys in and belonging to the Fund and all assets, interests, rights, privileges, liabilities and obligations of the Government relating to the Fund shall be transferred to and shall vest in the Board without further assurance.(2) The Board shall administer the Fund in accordance with the provisions of this Act and shall collect the skills development levy and disburse grants and loans from the Fund for the purposes of this Act.(3) The Board shall have power to do all things necessary or convenient to be done for or in connection with the performance of its functions under this Act.”.

Read in full context — Skills Development Levy (Amendment) Bill →