Singapore legislation
Clause 20
Clause 20
Capital moneys of ElderCare Fund
(1)
Upon the date of commencement of this Act, such sum as the Minister for Finance may determine out of moneys to be provided by Parliament shall be paid into the ElderCare Fund as capital moneys.
(2)
The Minister for Finance may from time to time after the date of commencement of this Act pay into the ElderCare Fund such sums of capital money as he may determine out of moneys to be provided by Parliament.
(3)
Notwithstanding the terms of any gift or bequest, all gifts and bequests given or made for the purposes of the ElderCare Fund shall be paid into the ElderCare Fund as capital moneys.
(4)
The capital moneys of the ElderCare Fund shall not be used for any purpose other than for investment.
(5)
Where at any time there is a permanent diminution of the capital moneys of the ElderCare Fund, the Minister shall, before paying out the income of the ElderCare Fund, make good such diminution from the income of the ElderCare Fund.