Singapore legislation

Clause 4

Establishment of National Research Fund

(1)

There shall be established a fund to be called the National Research Fund which shall be held, managed and administered as a Government fund.

(2)

There shall be paid into the Fund —

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

(c)

all gifts and donations paid by any person or organisation to the Government for the purposes of the Fund generally;

(d)

amounts received by the Board or Government —

(i)

from the sale of any property paid for with money from the Fund;

(ii)

from the sale of any property produced, or from dealing with patents or other intellectual property rights in respect of inventions made, in the course of any research and development activity paid for with money from the Fund; or

(iii)

in respect of any work paid for with money from the Fund;

(e)

all investments out of moneys in the Fund authorised to be made by this Act or any other written law and the proceeds of any such investment, including the net income from such investments; and

(f)

all sums received by way of repayment of any loan or advance from the Fund and any interest from any such loan or advance.

(3)

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

(4)

For the purposes of subsection (2)(e), 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 — National Research Fund Bill →