Singapore legislation

Clause 3

Establishment of National Productivity Fund

(1)

There shall be established a fund to be called the National Productivity 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 investments out of moneys in the Fund authorised to be made by this Act and the proceeds of any such investment, including the net income from such investments;

(c)

all composition sums paid under section 28; and

(d)

all moneys received by the Board by way of charges and fees for services rendered by the Board to any person.

(2)

For the purposes of subsection (1)(b), 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.

(3)

Upon the commencement of this Act, the Government shall pay into the Fund such sum as the Minister for Finance may determine out of moneys to be provided by Parliament.

Read in full context — National Productivity Fund Bill →