Education Endowment and Savings Schemes Act 1992 · 2020 Revised Edition · Part 2 · Education Endowment Scheme
4. Capital money of Endowment Fund
Feedback & supportOn 1 January 1993, the Government must pay into the Endowment Fund as capital money a sum determined by the Minister for Finance out of moneys provided by Parliament.
Endowment Fund
“Endowment Fund” means the Edusave Endowment Fund established under section 3(1);
For the purposes of this Act, the Minister for Finance may, from time to time, pay into the Endowment Fund such sums of capital money as the Minister may determine out of moneys to be provided by Parliament.
The capital moneys of the Endowment Fund must not be used for any purpose other than for investment.
Where at any time there is a permanent diminution of the capital moneys of the Endowment Fund, the Minister must, before paying out the income of the Endowment Fund, make good the diminution from the income of the Endowment Fund.