In forceAmended2020 Revised Edition

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Civil Aviation Authority of Singapore Act 2009 · 2020 Revised Edition · Part 2A · Funds

25A. Changi Airport Development Fund

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Amended

Last amended by an amending law of 2018. 2 amendments in all.

(1)

The Changi Airport Development Fund is established comprising —

(a)

all moneys appropriated from the Consolidated Fund or Development Fund and authorised to be paid into the Changi Airport Development Fund by a Supply law;

(b)

all moneys authorised by or under section 46A or 87A or any other written law to be paid into the Changi Airport Development Fund;

(c)

all contributions by the Authority to the Changi Airport Development Fund, out of the excess of the revenue over expenditure of the Authority in any financial year;

(d)

any gifts or donations made by any person for the purposes of the Changi Airport Development Fund;

(e)

all moneys borrowed or raised by the Authority for the purposes of the Changi Airport Development Fund; and

(f)

all investments out of moneys in the Changi Airport Development Fund authorised to be made by this Act and the proceeds of any such investment, including the net income from such investments.

(2)

The Changi Airport Development Fund is to be managed and administered by the Authority subject to the directions of the Minister.

(3)

For the purposes of subsection (1)(f), the net income from investments is the amount ascertained by adding to, or deducting from, the income received from investments of moneys in the Changi Airport Development Fund, any profit derived or loss sustained (as the case may be) from the realisation of such investments.

(4)

Upon dissolution of the Changi Airport Development Fund during any term of office of the Government (within the meaning of the Constitution), the balance then remaining in that Fund must be transferred to the Consolidated Fund and added to the reserves of the Government not accumulated by it during that term of office.