Section 10
Medifund Account
of Medical and Elderly Care Endowment Schemes Act 2000
ActIn forceProvision 10 of 47
Section 10
(1)
Every Medifund committee which receives a grant under section 5 must establish and maintain an account to be called a Medifund Account with a bank in Singapore.
(2)
The Medifund committee must pay into the Medifund Account all moneys received as a grant under section 5 and any interest accruing on the moneys must be paid into and form part of the moneys in the Medifund Account.