Utilisation of the Co-operative Societies Liquidation Account

Response to parliamentary question on the use of funds in the Co-operative Societies Liquidation Account to support the co-operative movement in Singapore

Written 6341. Ms Yeo Wan Ling: To ask the Minister for Culture, Community and Youth (a) whether there have been past instances whereby funds from the Co-operative Societies Liquidation Account (CSLA) were used under section 88 of the Co-operative Societies Act to support the co-operative movement; (b) whether there are future plans to use the CSLA funds to support the co-operative societies in Singapore; and (c) if so, what are they.

Under the Co-operative Societies Act, the Co-operative Societies Liquidation Account (“CSLA”) may be utilised generally for the furtherance of co-operative principles and for the benefit of the co-operative societies (“co-ops”), such as provision of training grants.  Most recently, the CSLA is used to fund the Empowering Communities Fund, which aims to empower co-ops to drive community initiatives and projects to assist and support vulnerable communities and for co-ops to do their part to complement the Government’s efforts in strengthening Singapore’s social compact.