Singapore legislation
Section 6
Section 6
Application of income of Endowment Fund
(1)
The income of the Endowment Fund may be paid out and applied for all or any of the following purposes:
for the provision of grants to any educational institution prescribed for the purposes of this paragraph, to enable it to enhance its quality of teaching;
for the provision of scholarships to full‑time students at any educational institution prescribed for the purposes of this paragraph;
for the provision of contributions and additional income to the Edusave Pupils Fund;
for any other purposes as are authorised under this Act or as may be prescribed.
(2)
For the purpose of providing additional income to the Endowment Fund, the Minister for Finance may, from time to time, pay to that Fund such sum of money as Parliament may provide, and such sum of money is not regarded as forming any part of the capital moneys of that Fund.