Establishment of Community Care Endowment Fund
Open ↗3.—(1) A fund called the Community Care Endowment Fund is established into which must be paid —(a)
all capital moneys as are appropriated from time to time from the Consolidated Fund and authorised to be paid into the ComCare Fund by this Act or any other written law;
(b)
all gifts or bequests given or made for the purposes of the ComCare Fund; and
(c)
the net income from investments of capital moneys in the ComCare Fund.
(2) The ComCare Fund must be regarded as a Government fund and as comprising public moneys for the purposes of any other written law.
(3) For the purposes of subsection (1)(c), the net income from investments of capital moneys is the amount ascertained by adding to, or deducting from, the income received from the investments of capital moneys any profit derived or loss sustained (as the case may be) from the realisation of such investments.
Administration of ComCare Fund
Open ↗4. The Minister is responsible for the administration of the ComCare Fund and all moneys belonging to the Fund may be deposited in any bank and invested in any investment authorised under the Financial Procedure Act 1966.
Capital moneys of ComCare Fund
Open ↗5.—(1) On 24 October 2005, such sum as the Minister for Finance may determine out of moneys to be provided by Parliament must be paid into the ComCare Fund as capital moneys.
(2) The Minister for Finance may, from time to time, after 24 October 2005 pay into the ComCare Fund such sums of capital moneys as he or she may determine out of moneys to be provided by Parliament.
(3) Despite the terms of any gift or bequest, all gifts and bequests given or made for the purposes of the ComCare Fund must be paid into the Fund as capital moneys.
(4) The capital moneys of the ComCare Fund must not be used for any purpose other than for investment.
(5) Where at any time there is a permanent diminution of the capital moneys of the ComCare Fund, the Minister must, before paying out any income of the Fund, make good such diminution from the income of the Fund.
Objects and application of income of ComCare Fund
Open ↗6.—(1) The objects for which the income of the ComCare Fund may be applied are —(a)
the provision of assistance to citizens and permanent residents of Singapore and their family members living in Singapore with financial or other difficulties to enable them to attain sufficient income to meet their basic needs;
(b)
the provision of assistance to address the developmental issues faced by children from families of citizens and permanent residents of Singapore living in Singapore with financial or other difficulties;
(c)
the provision of assistance to citizens and permanent residents of Singapore and their family members living in Singapore with financial or other difficulties who require help to integrate into society; and
(d)
the development of programmes to enhance the capacity of the community to undertake the objects set out in paragraphs (a), (b) and (c).
(2) In carrying out the objects of the ComCare Fund, the Minister may, from time to time, authorise the income of the Fund to be paid out and expended for all or any of the following purposes:(a)
the provision of grants to be given to individuals or families through organisations;
(b)
the provision of grants to be given to organisations to carry out programmes consistent with the objects of the Fund;
(c)
such other purposes consistent with the objects of the Fund, as may be prescribed.
Supervisory Council
Open ↗7.—(1) A Supervisory Council comprising such members as the Minister may appoint is established to oversee the administration and use of the moneys of the ComCare Fund.
(2) The Minister must appoint one of the members as chairperson.
(3) The Schedule has effect with respect to the Council.
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
