Singapore legislation
Regulation 3
of Education Service Incentive Payment (CONNECT Fund) Rules 2002
Regulation 3
Accounts in Fund
There must be maintained in respect of the CONNECT Fund the following accounts:
(a)
the Contribution Account in which must be kept such moneys appropriated from the Consolidated Fund for the purposes of the Ministry of Education and other moneys to meet contributions in respect of every member;
(b)
the Income Account in which must be kept all income from the investment of moneys of the CONNECT Fund; (c)the Forfeiture Account in which must be kept such other moneys forfeited or transferred thereto in accordance with the Education Service Incentive Payment (CONNECT Plan) Regulations 2002.