Singapore legislation

Clause 38

of Skills and Workforce Development Agency Bill

Clause 38

Revenue and property of Agency

(1)

The funds and property of the Agency include —

(a)

all moneys paid to the Agency by way of grants, subsidies, donations, gifts and contributions for the purposes of the Agency;

(b)

all moneys paid to, and all other moneys and property lawfully received by, the Agency for the purposes of the Agency;

(c)

all moneys recovered by the Agency pursuant to an order of a court under section 51 or 58, that relate to the whole or the proportion of an incentive, a grant or a loan out of moneys not in the Skills Development Fund;

(d)

all fees and charges payable to the Agency under this Act or any other Act administered by the Agency;

(e)

all moneys, dividends, royalties, interest or income received from any transaction made pursuant to the powers of the Agency under this Act or any other Act administered by the Agency;

(f)

all moneys borrowed by the Agency under this Act;

(g)

the Skills Development Fund; and

(h)

all accumulations of income derived from any property or money mentioned in paragraphs (a) to (g).

(2)

The Skills Development Fund must be managed and administered by the Agency separately from the other funds and property of the Agency.