Clause 71

There shall be established a fund to be known as the Central Co-operative Fund to which every society shall contribute five per cent of the surplus resulting from the operations of the society during the preceding financial year except that the Minister may specify, from time to time in any particular case, such maximum amount of any surplus that a society is liable to contribute.

The Central Co-operative Fund shall be used to further co-operative education, training, research, audit and for the general development of the co-operative movement in Singapore.

The Central Co-operative Fund shall be administered as a trust fund in such a manner as the Minister may prescribe in the Rules.