Education Endowment and Savings Schemes Act

(Original Enactment: Act 33 of 1992)

(31st July 2009)
An Act to establish an education endowment scheme and a scheme to promote savings for post-secondary education, and for matters connected therewith.
[1st January 1993]
Short title
1.  This Act may be cited as the Education Endowment and Savings Schemes Act.
2.—(1)  In this Act, unless the context otherwise requires —
“Board” means the Central Provident Fund Board established under the Central Provident Fund Act (Cap. 36);
“Council” means the Advisory Council established under section 10;
“Edusave account” means an Edusave account maintained under section 7(3);
“Edusave Pupils Fund” means the Edusave Pupils Fund established under section 7(1);
“Endowment Fund” means the Edusave Endowment Fund established under section 3(1);
“parent” includes a legal guardian;
“PSE account” means a PSE account maintained under section 16A(3);
“PSE Fund” means the Post-Secondary Education Fund established under section 16A(1);
“PSE Scheme Administrator” means the public officer appointed by the Minister to administer the PSE Fund on behalf of the Minister;
“school age” means such age as may be prescribed;
“sibling”, in relation to a member of the PSE Fund, means the natural sibling, step-sibling or adopted sibling of the member.
(2)  For the purposes of sections 12, 13 and 14, “school” means such educational institution as the Minister may approve from time to time under subsection (3).
(3)  The Minister may —
(a)approve any educational institution as a school for the purposes of any provision of sections 12, 13 and 14; and
(b)approve different educational institutions for the purposes of different provisions of sections 12, 13 and 14 and for different classes of members of the Edusave Pupils Fund.