Singapore legislation

Section 35

of Care Shield Life and Long-Term Care Act 2019

Section 35

Establishment of CareShield Life and ElderShield Insurance Fund

A fund called the CareShield Life and ElderShield Insurance Fund is established for the purposes of the CSHL Scheme and ESH Scheme, comprising —

(a)

all premiums (including interest, costs and penalties under sections 23(1)(a), 27(3) and 29, respectively) and any other sums paid under the CSHL Scheme;

(b)

all premiums under the ESH Scheme paid on or after the transfer date, and any other sums paid under the ESH Scheme;

(c)

all Government grants paid to the credit of the Fund for the purposes of the CSHL Scheme and ESH Scheme;

(d)

all gifts and donations given or made by any person for payment into the Fund, or to the Government or the Board for the purposes of the CSHL Scheme and ESH Scheme or for payment into the Fund;

(e)

all investments out of moneys in the Fund under section 36(4) and the proceeds of any such investments, including the net income from such investments; and

(f)

all moneys under the former ElderShield Scheme that are transferred to the Government on the transfer date.

Read in full context — Care Shield Life and Long-Term Care Act 2019 →