Singapore legislation
Regulation 2
of Co-operative Societies (Exemption under Section 97) (No. 4) Order 2013
Regulation 2
Exemption from section 89(3) of Act
ITE Co-operative Society Ltd shall be exempt from section 89(3) of the Act, in so far as —
(a)
any moneys remaining after the application of its funds to the purposes specified in section 88 of the Act; and
(b)
any sums unclaimed after 2 years from the date of cancellation of its registration,shall be donated to the ITE Endowment Fund, instead of being transferred to the Co-operative Societies Liquidation Account.