26.—(1) 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 decides to transfer to the Endowment Fund.
(2) Any interest, dividends and other income derived from the Endowment Fund do not form part of the Endowment Fund.
(3) The Endowment Fund may be applied for such purposes as may be approved by the Minister in writing.[Act 3 of 2026 wef 01/08/2026]
The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.
