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No. S 186

Singapore Armed Forces Act

(Chapter 295)

Singapore Armed Forces (Saver Fund) Regulations 1998

In exercise of the powers conferred by section 205C of the Singapore Armed Forces Act, the Armed Forces Council hereby makes the following Regulations:

PART I

PRELIMINARY

Citation and commencement

1. These Regulations may be cited as the Singapore Armed Forces (SAVER Fund) Regulations 1998 and shall come into operation on 1st April 1998.

Definitions

2. In these Regulations, unless the context otherwise requires —

“Board” means the Board of Trustees appointed in accordance with regulation 3;

“Chairman” means the Chairman of the Board;

“Contribution Account” has the same meaning as in regulation 11(a);

“financial year” means the financial year of the SAVER Fund;

“Income Account” has the same meaning as in regulation 11(b);

“member” means a member of the SAVER Plan;

“net income”, in relation to the SAVER Fund, means the amount ascertained by adding to, or deducting from, the income received from investments of capital moneys in the SAVER Fund any profit derived or loss sustained, as the case may be, from the realisation of such investments;

“SAVER Plan” means the SAVER Plan established by the Singapore Armed Forces (SAVER Plan) Regulations 1998 (G.N. No. S 187/98) made pursuant to section 205A of the Act;

“secretary” means the secretary of the Board appointed under regulation 7(1);

“Stabilisation Account” means the account established under regulation 11(c);

“subsidiary account” means any subsidiary account referred to in regulation 12(1);

“trustee” means a member of the Board, including the Chairman.

Made this 30th day of March 1998.

NG OOI HOOI

Secretary,
Armed Forces Council
Singapore.

[MINDEF 4-4/26-3-5; AG/LEG/SL/295/97/2 Vol.1]

(To be presented to Parliament under section 207 of the Singapore Armed Forces Act).