Singapore legislation

Section 10

of Medical and Elderly Care Endowment Schemes Act 2000

Section 10

Medifund Account

(1)

Every Medifund committee which receives a grant under section 5 must establish and maintain an account to be called a Medifund Account with a bank in Singapore.

(2)

The Medifund committee must pay into the Medifund Account all moneys received as a grant under section 5 and any interest accruing on the moneys must be paid into and form part of the moneys in the Medifund Account.

Read in full context — Medical and Elderly Care Endowment Schemes Act 2000 →