Singapore legislation
Regulation 17
Regulation 17
Valuation of Fund
Subregulation 1
If in the exercise of its discretion the Committee considers such a course desirable or expedient it may in the month of January in any year cause the Fund to be valued as on 31st December next preceding.
Subregulation 2
Any surplus ascertained as the result of any such valuation shall be allocated in proportion to the totals respectively appearing at the last-mentioned date in —
each member’s Contributions Account;
each member’s Donations Account; and
the Reserve Account,and each of such totals shall be increased accordingly.
Subregulation 3
If it so thinks fit, the Committee may make or cause to be made a valuation and apportionment similar to that provided for in paragraph (1) at any time when a member’s account has to be dealt with under rule 14(4) or at any other time.
Subregulation 4
Every valuation and apportionment made pursuant to this rule shall be final and binding on the Board and on each and every member.