Application by member to withdraw amount standing to his credit
4.—(1)  A member who has purchased a property or has obtained a loan for the purchase of property, whether before or after 1st May 1986, may submit an application to the Board to withdraw the whole or part of the amount standing to his credit in the Fund to be used for the payment of the purchase price or part thereof or for the repayment of any loan in full or in part, or for both.
(2)  An application under paragraph (1) may be approved by the Board subject to such terms and conditions as the Board may impose.
(3)  A member who has obtained a loan shall not be entitled to make any withdrawals under these Regulations for the repayment of the loan unless the loan is a term loan or is granted on an overdraft basis and the repayment of the loan is secured by a mortgage on the property or an another property of which he is the owner or a joint-owner.