Singapore legislation
Regulation 6
of Education Service Incentive Payment (CONNECT Fund) Rules 2002
Regulation 6
Forfeiture Account
Subregulation 1
All or any part of the contributions forfeited and all unclaimed moneys under the Education Service Incentive Payment (CONNECT Plan) Regulations 2002 must be credited to the Forfeiture Account.
Subregulation 2
The Minister may transfer such moneys in the Forfeiture Account to the Contribution Account as he or she thinks fit to meet contributions or payments of awards under the Education Service Incentive Payment (CONNECT Plan) Regulations 2002 or to meet future transactions or contingencies.