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REPUBLIC OF SINGAPORE

GOVERNMENT GAZETTE

ACTS SUPPLEMENT

Published by Authority

NO. 26]

Friday, August 28

[1992

The following Act was passed by Parliament on 31st July 1992 and assented to by the President on 13th August 1992:—

Redundancy Payments Fund (Dissolution) Act 1992

(No. 26 of 1992)

I assent.

WEE KIM WEE

President.

13th August 1992.

Date of Commencement: 28th August 1992

An Act to provide for the dissolution of the Redundancy Payments Fund, the distribution of the moneys therein to its members and for matters connected therewith, and to repeal the Redundancy Payments Fund Act (Chapter 266 of the 1985 Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:

Short title and commencement

1.—(1) This Act may be cited as the Redundancy Payments Fund (Dissolution) Act 1992 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

(2) This Act shall remain in force until 31st July 1993 and shall then expire unless continued in force for such further period as the Minister may, by notification in the Gazette, specify.

Interpretation

2. In this Act, unless the context otherwise requires —

“appointed day” means the date of commencement of this Act;

“Director” means the Director of the Fund appointed under the Redundancy Payments Fund Act (Cap. 266) in force immediately before the appointed day;

“Fund” means the Redundancy Payments Fund established under the Redundancy Payments Fund Act in force immediately before the appointed day;

“medisave account” means a medisave account maintained under the Central Provident Fund Act (Cap. 36);

“member” means any person to whose credit any amount is standing in the Fund immediately before the appointed day.

Director to retain position

3. The person who was the Director of the Fund immediately before the appointed day shall continue in office until he ceases to hold that office.

Payment out of Fund to citizens of Singapore

4. Where a member of the Fund is a citizen of Singapore, the Director shall pay to the member out of the Fund all moneys standing to his credit in the Fund, including such interest as may have been credited thereon.

Payment out of Fund to non-citizens

5.—(1) A member of the Fund who is not a citizen of Singapore and who is residing abroad or is about to leave Singapore and has no intention of returning to Singapore shall apply to the Director, within 6 months from the appointed day or such further period, not exceeding one month, as the Director may allow, to withdraw all the moneys standing to his credit in the Fund, including such interest as may have been credited thereon, and upon such application the Director shall pay out of the Fund all such moneys and interest to the member.

(2) Where a member of the Fund has not applied to withdraw the moneys standing to his credit in the Fund within the period specified or allowed under subsection (1), the Director shall pay such moneys, including such interest as may have been credited thereon, to the medisave account of the member.

(3) Where a member of the Fund is not a citizen of Singapore and is residing in Singapore, the Director shall pay the moneys standing to his credit in the Fund, including such interest as may have been credited thereon, to the medisave account of the member.

(4) All moneys of a member of the Fund paid to his medisave account under this section may be withdrawn by the member in accordance with the Central Provident Fund Act (Cap. 36) and any regulations made thereunder.

Payment out of Fund in respect of deceased members

6.—(1) Where a member of the Fund dies before any payment is made under section 4 or 5, the Director shall pay to the person nominated by the deceased member under section 11(5) of the Redundancy Payments Fund Act (Cap. 266) in force immediately before the appointed day to receive in his own right the amount standing to his credit in the Fund.

(2) Where any amount standing to the credit of a member in the Fund cannot for any reason be paid out under subsection (1) or section 4, the Director shall pay that amount to the Public Trustee for disposal in accordance with any written law for the time being in force.

(3) When all the moneys standing to the credit of a member of the Fund have been paid to the person nominated by him or the Public Trustee under this section, no person shall have any further claim against the Fund.

(4) The receipt of the person nominated by a member of the Fund or of the Public Trustee shall be a discharge to the Director for such portions of the moneys payable out of the Fund under this section.

Dissolution of Fund

7. Upon the distribution of the moneys of the Fund under this Act, the Fund shall be dissolved.

Costs

8. All expenses incurred by the Director in connection with the dissolution of the Fund, including the costs of auditing the account of the Fund, shall be charged to and paid out of the Consolidated Fund.

Transfer of surplus to Workers’ Fund

9. Upon the dissolution of the Fund, the balance of the moneys remaining in the Fund, including any accumulated surplus, shall be transferred to the Workers’ Fund established under the Workmen’s Compensation Act (Cap. 354).

Protection against action, suit, etc

10. When any payment is made or act is done by the Public Trustee or the Director or any person acting under his authority in accordance with this Act, the Government, Public Trustee, Director and such person shall not be liable in respect of any claim on the part of any member of the Fund or any person nominated by the deceased member in connection with such payment or act.

Repeal

11. The Redundancy Payments Fund Act (Cap. 266) is repealed.