Singapore legislation
Regulation 38
Regulation 38
Reserve Fund
Amended byS 864/2014 wef 31/12/2014
For the purposes of section 15A(3) of the Act —
(a)
such amount in the Reserve Fund as the Board may determine may from time to time be transferred to the Common Fund;
(b)
such amount in the Reserve Fund as the Board may determine may from time to time be transferred to and included in the distributable sum referred to in section 12A of the Act;
(c)
such amount in the Reserve Fund as the Board may determine may from time to time be invested in such investments permitted by law for the investment of trust funds; and
(d)
the Board may at any time sanction the sale or liquidation of any investment referred to in paragraph (c).