Singapore legislation
Regulation 4
of Town Councils (Minimum Contributions to Sinking Funds) Financial Rules 2017
Regulation 4
Minimum amount of contributions to ordinary sinking funds
For every quarter of the financial year of a Town Council starting 1 April 2017, and for every quarter of any subsequent financial year of the Town Council —
at least 26% of all conservancy and service charges which are levied by the Town Council for residential property and for commercial property, respectively, and are paid or due and payable, or both, to the Town Council in that quarter; and
at least 26% of —
the total grants-in-aid received by the Town Council in that relevant quarter for residential property and commercial property, respectively; less(ii)the lift replacement fund matching grant-in-aid received by the Town Council in that same relevant quarter for that same property,must be paid or credited by that Town Council into every ordinary sinking fund established by the Town Council for that residential property and that commercial property, respectively.