Section 1
Short title
This Act is the Statutory Corporations (Contributions to Consolidated Fund) Act 1989.
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Statutory Corporations (Contributions to Consolidated Fund) Act 1989 is Singapore Act, cited as Act SCCCFA 1989, currently marked in force and first recorded in 1989.
Short title
This Act is the Statutory Corporations (Contributions to Consolidated Fund) Act 1989.
Interpretation
In this Act, unless the context otherwise requires —“Consolidated Fund” means the Consolidated Fund established under Article 145 of the Constitution;“expenditure” means all expenses properly incurred by a specified statutory corporation in performing its functions and duties;“funds” includes all general and special funds and reserves under the control or management of a specified statutory corporation, other than funds created for the accounting of moneys which are subject to a trust;“Minister” means the Minister for Finance;“revenue” includes all moneys received by or accruing to a specified statutory corporation other than moneys subject to a trust;“specified statutory corporation” means any of the organisations, authorities or corporations specified in the Schedule.
“Consolidated Fund” means the Consolidated Fund established under Article 145 of the Constitution;
“expenditure” means all expenses properly incurred by a specified statutory corporation in performing its functions and duties;
“funds” includes all general and special funds and reserves under the control or management of a specified statutory corporation, other than funds created for the accounting of moneys which are subject to a trust;
“revenue” includes all moneys received by or accruing to a specified statutory corporation other than moneys subject to a trust;
“specified statutory corporation” means any of the organisations, authorities or corporations specified in the Schedule.
Minister may require payment into Consolidated Fund
Despite the provisions of any written law specified in the Schedule, the Minister may, by written notice, require any specified statutory corporation to pay into the Consolidated Fund within the period specified in the notice —
the whole or part of the excess of the revenue over the expenditure of that statutory corporation in any financial year; and
the whole or part of the amount in the funds of that statutory corporation which, in the Minister’s opinion, is not required for performing its functions and duties.
Amendment of Schedule
The Minister may, by order in the Gazette, amend the Schedule.
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