Singapore Armed Forces (Saver-premium Fund) Regulations

Singapore Armed Forces Act

(Chapter 295, Section 205C)

Rg 18

G.N. No. S 186/1998

REVISED EDITION 2001

(31st January 2001)

[1st April 1998]

PART I

PRELIMINARY

Citation

1. These Regulations may be cited as the Singapore Armed Forces (SAVER-Premium Fund) Regulations.

Definitions

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

“auditor” means the auditor of the SAVER-Premium Fund, whose functions and duties shall be discharged, and whose powers shall be exercised, by —

(a)	the Auditor-General; or
(b)	such other auditor as may be appointed annually by the Minister in consultation with the Auditor-General under section 205C(5) of the Act;

[S 725/2004 wef 31/12/2004]

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

“CARE Account” means the Career and Retirement Endowment Account referred to in regulation 12(2)(a);

“Chairman” means the Chairman of the Board;

“Contribution Account” means the Contribution Account referred to in regulation 11(b);

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

“Forfeiture Account” means the Forfeiture Account referred to in regulation 11(c);

“Income Account” means the Income Account referred to in regulation 11(d);

“Loan and Benefits Account” means the Loan and Benefits Account referred to in regulation 11(e);

“member” means a member of the SAVER Plan or the Premium Plan;

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

“Premium Plan” means the Premium Plan established by the Singapore Armed Forces (Premium Plan) Regulations made under section 205A of the Act;

“Provisional Account” means the Provisional Account referred to in regulation 11(g);

“SAVER Plan” means the SAVER Plan established by the Singapore Armed Forces (SAVER Plan) Regulations (Rg 19) made under section 205A of the Act;

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

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

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

Search within Legislation