Establishment of Fund
Open ↗5.—(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;[Act 4 of 2023 wef 15/06/2023]
(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;[Act 4 of 2023 wef 15/06/2023]
[Act 17 of 2026 wef 01/07/2026]
(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;[Act 4 of 2023 wef 15/06/2023]
(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. [24/2016]
Government to contribute to Fund
Open ↗6. The Government must contribute monthly to the Fund an amount equal to the amount of levy which would be chargeable in any month on an employer in respect of each employee employed by the Government as if that employee were employed by a private person.
Objects of Fund and expenditure of moneys of Fund
Open ↗7.—(1) The objects for which moneys of the Fund may be applied are as follows:(a)
the promotion, development and upgrading of skills and expertise of persons preparing to join the workforce, persons in the workforce and persons rejoining the workforce;
(b)
the retraining of retrenched persons;
(c)
the provision of financial assistance by grants, loans or otherwise for the purposes of the abovementioned objects.
(2) In carrying out the objects of the Fund, the Agency may from time to time authorise moneys of the Fund to be paid out and expended for all or any of the following purposes:(a)
for establishing or expanding facilities or assisting in the maintenance of facilities for full-time or part-time training courses and training programmes designed to promote the skills or expertise of persons preparing to join the workforce, persons in the workforce and persons rejoining the workforce;
(b)
for the provision of grants or loans to any employer for equipment required for more sophisticated or skilled operations in the conduct of the employer’s business;
(c)
for defraying or subsidising the costs incurred by the Agency or by any employer or training institution in the training or retraining of persons preparing to join the workforce, persons in the workforce and persons rejoining the workforce to acquire better skills or expertise;
(d)
for such other purposes, not inconsistent with the objects of the Fund, as the Minister may approve.
Transfer to Agency of moneys in Fund and administration of Fund
Open ↗8.—(1) The Agency must administer the Fund in accordance with the provisions of this Act and must collect the skills development levy and disburse incentives, grants and loans out of moneys in the Fund for the purposes of this Act.[Act 4 of 2023 wef 15/06/2023]
(2) The Agency has power to do all things necessary or convenient to be done for or in connection with the performance of its functions under this Act.
Delegation of functions of Agency and reimbursement
Open ↗9.—(1) The Agency may appoint such agents (including the Government) as may be necessary for the purposes of this Act.
(2) The Agency may delegate all or any of its powers and functions under this Act to any employee or agent (including the Government) as it may appoint under subsection (1).
(3) The Agency may pay to any person appointed under subsection (1) a fee for any services rendered in exercise of any powers and functions delegated to that person under this Act.
(4) The Agency may use moneys from the Fund for all expenses incurred by the Agency for the purposes of this Act.
Investment
Open ↗10. The Agency may invest the moneys belonging to the Fund and available for investment in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965.
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
