s 13 Establishment of Singapore Arts Endowment Fund
13.—(1) A fund called the Singapore Arts Endowment Fund is established, which vests in the Council and consists of —(a) all moneys transferred to the Council under section 15(a); (b) all donations and gifts accepted by the Council for the Fund; (c) such contributions to the Fund as the Minister may specify from moneys provided by Parliament; and (d) any other moneys that the Council may decide to transfer to the Fund. (2) Any interest, dividends and other income derived from the Fund must be credited to the general funds of the Council. (3) In this section, “general funds of the Council” means the funds of the Council other than the Fund. (4) The Fund must not, except with the prior written approval of the Minister, be applied, disposed of or alienated otherwise than as specified in section 12(2) and (3).