Education Endowment and Savings Schemes Act 1992 · 2020 Revised Edition · Part 2 · Education Endowment Scheme
3. Establishment of Edusave Endowment Fund
Feedback & supportLast amended by an amending law of 2014.
For the purposes of this Act, a fund called the Edusave Endowment Fund is established, into which must be paid —
Endowment Fund
“Endowment Fund” means the Edusave Endowment Fund established under section 3(1);
all capital moneys provided by Parliament pursuant to this Act;
all the income of that Fund; (c)any moneys which the Minister has authorised under section 7(5) to be transferred from the Edusave Pupils Fund; and
all donations to that Fund made under section 15,and out of which must be met all payments authorised to be made under this Act.
The Minister is responsible for the administration of the Endowment Fund, and all moneys belonging to that Fund may be deposited in any bank and invested in any investment authorised under the Financial Procedure Act 1966.
The Endowment Fund is deemed to be a Government fund for the purposes of any written law.