Singapore legislation

Clause 26

of Post Office Savings Bank of Singapore Bill

Clause 26

Security of Government

The repayment of all moneys deposited in the Bank together with interest thereon is guaranteed by the Government and accordingly, if at any time the assets of the Bank shall be insufficient to pay the lawful claims of every depositor, such deficiency shall be charged and paid out of the Consolidated Fund and the Minister for Finance shall certify such deficiency to Parliament without delay.

Clause 26 — Post Office Savings Bank of Singapore Bill