Objects of Fund and expenditure of moneys of Fund
128.—(1)  The objects for which moneys of the Fund may be applied are as follows:
(a)the promotion of Singapore as a financial centre;
(b)the development and upgrading of skills and expertise required by the financial services sector;
(c)the development and support of educational and research institutions, research and development programmes and projects relating to the financial services sector; and
(d)the development of infrastructure to support the financial services sector in Singapore.
[31/2017]
(2)  In carrying out the objects of the Fund, the Authority may, from time to time, authorise moneys of the Fund to be paid out and expended for all or any of the following purposes carried out in Singapore or elsewhere:
(a)establishing or expanding facilities or assisting in the maintenance of facilities for training courses and training programmes designed to promote the skills or expertise for purposes consistent with the objects of the Fund;
(b)the provision of scholarships, grants, subsidies, rebates, loans or other financial assistance or incentives for purposes consistent with the objects of the Fund; and
(c)such other purposes not inconsistent with the objects of the Fund as the Minister may approve.
(3)  The Authority may also authorise moneys of the Fund to be used to pay the following:
(a)all claims in satisfaction of any indemnity or warranty given by the Authority in relation to the sale of the transferee holding company’s shares as defined in the Exchanges (Demutualisation and Merger) Act 1999;
(b)all expenses incurred by the Authority or its employees or agents in the administration of the Fund; and
(c)the fees referred to in section 129(3).
[31/2017]
(4)  The Minister may, from time to time, approve the payment of such sums in the Fund to the Consolidated Fund as the Minister may determine.