Singapore legislation
Section 12
Section 12
Dissolution, etc., of Medifund committee or approved institution
(1)
Despite any other written law to the contrary, all moneys in the Medifund Account of any Medifund committee designated to approve applications from eligible patients of any approved institution —
are deemed not to form part of the property of the Medifund committee or approved institution if the committee is dissolved or the institution goes into voluntary or compulsory liquidation; and
are not available for payment of the debts of the Medifund committee or approved institution or liable to be paid or taken in execution under an order or process of any court.
(2)
The moneys in the Medifund Account must, after deduction of any payment to the approved institution which has been authorised under section 17, be vested in and paid into the Medifund if the Medifund committee is dissolved.