Singapore legislation

Clause 4

of Medical and Elderly Care Endowment Schemes Bill

Clause 4

Capital moneys of Medifund

(1)

For the purposes of this Part, the Minister for Finance may, from time to time, pay into the Medifund such sums of capital money as he may determine out of moneys to be provided by Parliament.

(2)

Notwithstanding the terms of any gift or bequest, all gifts and bequests given or made for the purposes of the Medifund shall be paid into the Medifund as capital moneys.

(3)

The capital moneys of the Medifund shall not be used for any purpose other than for investment.

(4)

Where at any time there is a permanent diminution of the capital moneys of the Medifund, the Minister shall, before paying out the income of the Medifund, make good such diminution from the income of the Medifund.

Clause 4 — Medical and Elderly Care Endowment Schemes Bill