In forceAmended2020 Revised Edition

Contents

Medical and Elderly Care Endowment Schemes Act 2000 · 2020 Revised Edition · Part 2 · Medifund Scheme

12. Dissolution, etc., of Medifund committee or approved institution

Amended

Last amended by an amending law of 2021.

(1)

Despite 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 —

(a)

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

(b)

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

(2)

The moneys in the Medifund Account must, 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.