Singapore legislation

Clause 12

of Medical and Elderly Care Endowment Schemes Bill

Clause 12

Dissolution, etc., of Medifund committee or approved institution

(1)

Notwithstanding 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 shall —

(a)

be deemed not to form part of the property of the Medifund committee or approved institution if it is dissolved or goes into voluntary or compulsory liquidation; and

(b)

not be available for payment of the debts of the Medifund committee or approved institution or be liable to be paid or taken in execution under an order or process of any court.

(2)

The moneys in the Medifund Account shall, 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.

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