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Medical and Elderly Care Endowment Schemes Act 2000 Division 2 — Grants to Medifund committees

s 8–s 13 · 6 sections

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Approved institutions

s 8

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8. The Minister may, by notification in the Gazette, approve or revoke the approval of any hospital or other healthcare institution for the purposes of this Part.

Conditions on payment of grants

9.—(1) The Minister may, from time to time, authorise the payment of grants in such amount and to such Medifund committee as the Minister may think fit. (2) The Minister may, in authorising payment for any purpose under section 5 to any Medifund committee or other person, impose such terms and conditions as the Minister may think fit. (3) The Minister may require any Medifund committee or other person who fails to comply with such terms or conditions to repay into the Medifund any moneys paid under section 5.

Medifund Account

s 10

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10.—(1) Every Medifund committee which receives a grant under section 5 must establish and maintain an account to be called a Medifund Account with a bank in Singapore. (2) The Medifund committee must pay into the Medifund Account all moneys received as a grant under section 5 and any interest accruing on the moneys must be paid into and form part of the moneys in the Medifund Account.

Withdrawal from Medifund Account

s 11

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11.—(1) No money may be withdrawn from any Medifund Account unless the withdrawal is authorised in accordance with section 17. (2) A Medifund committee must repay into the Medifund Account any moneys withdrawn in contravention of subsection (1).

Dissolution, etc., of Medifund committee or approved institution

s 12

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12.—(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.[Act 25 of 2021 wef 01/04/2022] (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.

Accounts of Medifund Account

s 13

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13.—(1) Every Medifund committee must cause to be kept proper accounts and records of all transactions and affairs relating to its Medifund Account and must do all things necessary to ensure that all payments are correctly made and properly authorised and that adequate control is maintained over the moneys and receipts of its Medifund Account. (2) Every Medifund committee must, as soon as practicable after the close of the accounting period of its Medifund Account but not later than 30 June of each year, cause to be prepared and submitted financial statements in respect of that year to the auditor of the Medifund Account. (3) The accounting period of a Medifund Account begins on 1 April of each year and ends on 31 March of the succeeding year.

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