Singapore legislation

Section 3

of Lifelong Learning Endowment Fund Act 2001

Section 3

Establishment of Lifelong Learning Endowment Fund

(1)

A fund called the Lifelong Learning Endowment Fund is established, into which must be paid —

(a)

all capital money appropriated from time to time from the Consolidated Fund and authorised to be paid into the Endowment Fund by this Act or any other written law;

(b)

all gifts or bequests given or made for the purposes of the Endowment Fund; and

(c)

the net income from investments of capital money in the Endowment Fund.

(2)

The Minister is responsible for the administration of the Endowment Fund and all moneys belonging to the Fund may be deposited in any bank and invested in any investment authorised under the Financial Procedure Act 1966.

(3)

The Endowment Fund must be regarded as a Government fund and as comprising public moneys for the purposes of any other written law.

Read in full context — Lifelong Learning Endowment Fund Act 2001 →