Singapore legislation

Clause 3

Establishment of Developmental Investment Fund

(1)

There shall be established a fund to be called the Developmental Investment Fund into which shall be paid —

(a)

all moneys from time to time appropriated from the Consolidated Fund and authorised to be paid into the Fund by this Act or any other written law;

(b)

all sums representing the proceeds of loans raised under this Act;

(c)

all other revenues of Singapore allocated by any written law to the Fund; and

(d)

the net income from investments of moneys in the Fund authorised to be made by this Act or any other written law.

(2)

The Fund shall be regarded as a Government fund and as comprising public moneys for the purposes of any other written law.

(3)

For the purposes of subsection (1)(d), the net income from investments shall be the amount ascertained by adding to, or deducting from, the income received from investments of moneys in the Fund any profit derived or loss sustained, as the case may be, from the realisation of such investments.

Read in full context — Developmental Investment Fund Bill →