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In forceAmended2020 Revised Edition

Part 3 · Skills Development Fund

5. Establishment of Fund

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Amended

Last amended by an amending law of 2026. 3 amendments in all.

(1)

On 1 October 1979, a Fund called the Skills Development Fund is established.

(2)

The Fund consists of —

(a)

the proceeds of the skills development levy collected under this Act;

(b)

all penalties and costs recovered from proceedings under this Act;

(ba)

all moneys recovered by the Agency pursuant to an order of a court under section 57D or 58 of the SkillsFuture Singapore Agency Act 2016 (as in force immediately before the date of commencement of section 73 of the Skills and Workforce Development Agency Act 2026) or section 51 or 58 of the Skills and Workforce Development Agency Act 2026, that relate to the whole or the proportion of an incentive, a grant or a loan out of moneys in the Fund;

(c)

all moneys contributed by the Government to the Fund under section 6, all contributions to the SkillsFuture Jubilee Fund established by the Government, and such other contributions to the Fund as the Minister may specify from moneys provided by Parliament;

(d)

all donations and gifts accepted by the Agency for the Fund;

(e)

all honorariums and other payments accepted by the Agency for any services rendered by the Agency in connection with the performance of its functions under this Act; and

(f)

any interest, dividends and other income derived from the investment of moneys in the Fund.

Report

Part 4

Offences and Enforcement Powers

Part 5

Miscellaneous

Schedules