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← Community Care Endowment Fund Act 2005

Community Care Endowment Fund Act 2005 s 5

s 5 Capital moneys of ComCare Fund

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.

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗

Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.

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