s 4 Purposes of Fund
4.—(1) The moneys in the Fund may be withdrawn and applied for all or any of the following purposes only:(a) the provision (whether directly or through an intermediary) of financing (but not loans) or incentives (including grants and scholarships) to any public authority, enterprise, educational institution or other person (whether in Singapore or elsewhere) undertaking or facilitating any programme on matters relating to productivity enhancement and continuing education;[Act 29 of 2023 wef 18/09/2023] (aa) the provision of grants (whether directly or through an intermediary) to any enterprise, for the purpose of —(i) making investments in Singapore; or (ii) carrying out economic activities in Singapore, in order to develop the Singapore economy or any part thereof; [Act 29 of 2023 wef 18/09/2023] (b) the payment of expenses incurred by the Board in the performance of its functions and the discharge of its duties under this Act, including any remuneration or allowances payable to the members of the Board who are not public officers; (c) the payment of all expenses incidental to or arising from the administration, investment and management of moneys in the Fund. (2) Except as otherwise provided by this section, a payment must not be made out of the Fund unless the payment is authorised by the Board.