Since the introduction of the Save & Invest Account in 1999, 52
bureaux / departments have made a total of 125 withdrawals amounting
to $185 million from this Account. The following is a breakdown of how
the Save & Invest Account has been used up to end October 2001:
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The balances credited into the "Save & Invest Account"
are valid for three years from the date of credit. That is, savings
credited in 1998-99 will lapse on 31 March 2002. At end-October 2001
the balance on the "Save & Invest Account" stood at $915
million including $525 million credited in 2000-01. 32 bureaux / departments have yet to make withdrawals from their individual Save & Invest accounts and their accumulated undrawn balances amounted to $101 million, or 11% of the total balance. Out of the unused balance of $101 million, $16 million will lapse on 31 March 2002, $45 million will lapse on 31 March 2003 and $40 million will lapse on 31 March 2004. Finance Bureau |