Singapore legislation
Section 109
Section 109
Use of resolution fund to pay loan, etc., and balance in resolution fund
(1)
The Minister may, from time to time, direct the trustee of a resolution fund to make a withdrawal from the resolution fund for any of the following purposes:
to repay the Authority all or any part of the loan made under section 23(7A), together with any interest on such loan;
to reimburse the Agency for any payment the trustee received under section 29A of the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011.
(2)
The Minister may by regulations made under section 126 provide for —
how the balance in a resolution fund is to be dealt with after the fund is no longer needed for any of the purposes mentioned in section 101(1) or subsection (1); and
the dissolution of the resolution fund after the balance of the fund has been dealt with in accordance with the regulations, and the publication of a notice of such dissolution.