In forceAmended2020 Revised Edition

Contents

National Productivity Fund Act 2010 · 2020 Revised Edition · Part 2 · National Productivity Fund

3. Establishment of National Productivity Fund

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Amended

Last amended by an amending law of 2023.

(1)

A fund called the National Productivity Fund is established, into which must 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 of those investments, including the net income from those investments;

(ba)

all moneys paid to or recovered by the Board (whether pursuant to any contract entered into, any legal action taken, or otherwise) in connection with the provision of any financing, incentive or grant from the Fund;

(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 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 those investments.