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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Bill introduced to include more of Temasek’s contributions in Govt revenue

Posted on 12 May 2015

A constitutional change was sought on Monday to make Temasek Holdings a bigger contributor to the Government’s coffers, as Singapore prepares for more social and infrastructure spending. The Constitution of the Republic of Singapore (Amendment) Bill, introduced in Parliament by Senior Minister of State for Finance Josephine Teo, will allow the Government to include Temasek as a contributor to its Net Investment Returns (NIR) framework.
The framework, set up in 2009, allows the Government to spend up to half of the long-term investment returns on the net assets managed by the Monetary Authority of Singapore (MAS) and GIC. The amendment to Singapore’s constitution will allow the Government to apply the framework to Temasek as well………………………………………..Full Article: Source


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