s 5 Purposes of Funds
5.—(1) The moneys in the Pioneer Generation Fund and the Merdeka Generation Fund may be withdrawn and applied only for all or any of the following purposes:(a) to provide financial assistance to Pioneers or Merdeka Generation Seniors (as the case may be) in accordance with section 16(1) and grants by way of reimbursement in accordance with section 16(2); (b) to fund all or any part of the cost of any prescribed public scheme but only to the extent that Pioneers or Merdeka Generation Seniors (as the case may be) are eligible to participate in or receive benefits under that public scheme; (c) to meet the payment of expenses referred to in section 6, and any terms of appointment of a public authority and organisation under section 19(1)(b) and (c), respectively; (d) for such other purposes as are authorised under this Act to be paid out of the Pioneer Generation Fund and the Merdeka Generation Fund, respectively.[16/2019] (2) The moneys in the Pioneer Generation Fund and the Merdeka Generation Fund may be deposited in any bank account and invested in any investment authorised under the Financial Procedure Act 1966.[16/2019]