Policy on Investment of the Private Sector State Insurance Fund (SIF)

October 27, 2014ECC BOARD RESOLUTION NO. 14-10-43POLICY ON INVESTMENT OF THE PRIVATE SECTOR STATE INSURANCE FUND (SIF)Excerpts from the Minutes of the Second (2nd) Joint Special Commission Meeting, Employees' Compensation Commission, Series of 2014, Ichikawa Hall, OSHC Bldg. Agham cor. North Ave., Quezon City, Wednesday, 15 October 2014 at 12:00 NN.WHEREAS, Article 178 of P.D. No. 626, as amended, partly provides:"ART. 178. Management of Funds. — All revenues collected by the System under this Title shall be deposited, invested, administered and disbursed in the same manner and under the same conditions, requirements and safeguards as provided by Republic Act numbered eleven hundred sixty-one, as amended, and Commonwealth Act numbered one hundred eighty-six, as amended. . ." WHEREAS, in relation to the said provision, Art. 179 of P.D. No. 626, as amended, partly reads:"ART. 179. Investment of funds. — . . . All amounts accruing to the State Insurance Fund, which is hereby established in the SSS and GSIS, respectively, shall be deposited with any authorized depository bank approved by the Commission, or invested with due...