Singapore legislation

Clause 6

Application of income of Endowment Fund

(1)

The income of the Endowment Fund may be paid out and expended for all or any of the following purposes:

(a)

for the provision of grants to any Government or Government-aided school to enable it to enhance its quality of teaching;

(b)

for the provision of scholarships to full-time pupils at any prescribed school;

(c)

for the provision of contributions to the Edusave Pupils Fund; and

(d)

for such other purposes as are authorised under this Act or as may be prescribed.

(2)

For the purpose of providing income to the Endowment Fund for the year 1993, the Minister for Finance shall pay to that Fund such sum of money as is adequate for that purpose out of moneys to be provided by Parliament and such sum of money shall not be regarded as forming any part of the capital money of the Endowment Fund.

Read in full context — Education Endowment Scheme Bill →