Section 12 — National Council of Social Service Act 1992

There is established an Endowment Fund which vests in the Council and consists of —

(a)

all donations and gifts accepted by the Council for the Endowment Fund;

(b)

all reserves of the Council in excess of 2 years of its operating expenditure; and

(c)

any other moneys that the Council may determine to transfer to the Endowment Fund.

Any interest, dividends and other income derived from the Endowment Fund must be credited to the General Fund.

The Endowment Fund may be applied for such purposes as may be approved by the Minister in writing.