Singapore legislation

Clause 4

Establishment of Pioneer Generation Fund

(1)

There is established a Government fund called the Pioneer Generation Fund comprising —

(a)

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

(b)

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

(c)

all gifts and donations given or made by any person to the Government for the purposes of the Fund; and

(d)

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

(2)

For the purposes of subsection (1)(d), the net income from investments is 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)

The Fund is to be regarded as comprising public moneys for the purposes of any other written law, and the Financial Procedure Act (Cap. 109) applies to the Fund to the extent that it is not inconsistent with any of the provisions of this Act.

Read in full context — Pioneer Generation Fund Bill →