Public Transport Council Act 1987 · 2020 Revised Edition · Part 6 · Fuel Equalisation Fund
32. Establishment of Fuel Equalisation Fund
Feedback & supportLast amended by an amending law of 2025. 2 amendments in all.
Every person to whom a Class 1 bus service licence or a licence under Part 3 of the Rapid Transit Systems Act 1995 has been granted must —
bus service licence
“bus service licence” means a licence granted (or deemed granted) under the Bus Services Industry Act 2015 to operate one or more bus services;
establish and maintain a Fuel Equalisation Fund (called in this Part the Fund) for the purpose of mitigating the effects of any increase in fuel price and electricity tariff; and
pay into the Fund an annual contribution of such amount as the Council may, from time to time, determine.
A person mentioned in subsection (1) must not withdraw any sum of money from the Fund except with the approval of the Council.
Council
“Council” means the Public Transport Council established under section 3;
An application to withdraw any sum of money from the Fund must be made to the Council in such form or manner as the Council may require.
Upon receiving an application under subsection (3), the Council may —
grant the application to withdraw the sum of money from the Fund in full or in part for the purpose mentioned in subsection (1)(a), subject to such conditions as the Council thinks fit; or
reject the application.[22A
Despite subsection (4), the Council may, subject to such conditions as the Council thinks fit, grant an application to withdraw any sum of money from the Fund, for a purpose other than the purpose mentioned in subsection (1)(a), if —
the Fund is established and maintained by a person to whom a Class 1 bus service licence has been granted (called A);
the application is made by A;
the sum of money applied to be withdrawn does not exceed Z; and
the sum of money that is applied to be withdrawn does not include any amount paid into the Fund under subsection (1)(b) on or after the date of commencement of section 4 of the Transport Sector (Miscellaneous Amendments) Act 2025.
In subsection (5)(c), Z is an amount determined in accordance with the formula X – Y, where —
X is the amount standing in the Fund immediately before 1 January 2014; and
Y is the aggregate of the sum of moneys withdrawn from the Fund under subsection (4)(a) or (5) (as the case may be) on or after 1 January 2014 but prior to the application in question.