Developmental Investment Fund Act 2000

Developmental Investment Fund Act 2000 2020 REVISED EDITION This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021 An Act to establish a Developmental Investment Fund and to define its purposes and for matters connected therewith. [Act 35 of 2021 wef 31/01/2022] [1 April 2000] PART 1 PRELIMINARY Short title 1. This Act is the Developmental Investment Fund Act 2000. Interpretation 2. In this Act, unless the context otherwise requires — “developmental purpose” means — (a) to promote, assist in or facilitate the establishment, development or expansion of any industry or class of business enterprise that will enhance, directly or indirectly, economic growth and employment opportunities in Singapore, that enjoys good export market prospects or that will enhance Singapore’s international competitiveness; (b) to construct, improve, extend or replace any buildings, building or engineering works, plant, machinery, equipment or other infrastructure required in respect of or connected with the economic development or general welfare of Singapore; (c) to reclaim or develop any land in Singapore or to commercially exploit or apply any scientific knowledge or technology; or (d) to promote, assist or facilitate any research, survey, investigation or other work preparatory to any purpose referred to in paragraph (a), (b) or (c); “financial year”, in relation to the Fund, means a period of 12 months ending on 31 March in any year; “Fund” means the Developmental Investment Fund established under section 3; “invest” includes entering into a transaction or an arrangement for the protection or enhancement of investments; “Minister” means the Minister charged with the responsibility for finance; “property” means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description; “public authority” means any board or authority established by or under any written law to perform or discharge any public function; “responsible Minister” has the meaning given by section 6(1); “securities” includes shares, inscribed stock, debentures, bonds, debenture stock, notes or any other document creating, evidencing or acknowledging indebtedness. [Act 35 of 2021 wef 31/01/2022] [Deleted by Act 35 of 2021 wef 31/01/2022]