Section 4
SEC. 4. Definitions.-For the purposes of this Act- "System" means the Government Service Insurance System created under Commonwealth Act Numbered One hundred and eighty-six. "Fund" means the "Property Insurance Fund" created under this Act. "Property" includes vessels and craft, motor vehicles, machineries, permanent buildings, properties stored therein, or in buildings rented by the Government, or properties in transit. The word "Government" as used in this Act refers to the National, provincial, city, or municipal government, agency, commission, board or enterprises owned or controlled by the Government. "Disposable Surplus" means the amount left after the necessary insurance reserves and other reserves have been set aside together with the expenses incidental to the administration of the Fund.