Singapore legislation

Clause 19

Amendment of section 75

Section 75 of the principal Act is amended by deleting subsection (10) and substituting the following subsection:“(10) The Council may, in its discretion, transfer from the Fund the whole or any part of the interest, dividends and other accretions of capital arising from the Fund —

(a)

to any other fund of the Society for —

(i)

the purpose of purchasing or maintaining a library for the use of the members of the Society; or

(ii)

such purposes as the Minister may specify by notification in the Gazette; or

(b)

to any wholly-owned subsidiary of the Society, for such purposes as the Minister may specify by notification in the Gazette.”.

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