Singapore legislation

Clause 5

of Education Endowment Scheme (Amendment No. 2) Bill

Clause 5

Amendment of section 3

Section 3 of the principal Act is amended by deleting subsection (1) and substituting the following subsection:“(1) For the purposes of this Act, there shall be established a fund to be called the Edusave Endowment Fund into which shall be paid —

(a)

all capital money provided by Parliament pursuant to this Act;

(b)

all income of that Fund; and

(c)

any moneys which the Minister has authorised under section 7(5) to be transferred from the Edusave Pupils Fund,and out of which shall be met all payments authorised to be paid under this Act.”.

Read in full context — Education Endowment Scheme (Amendment No. 2) Bill →