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Formal Consolidation |  1998 RevEd
Maximum withdrawal limit under Regulations
8.  The total amount of money which may be withdrawn by a member under these Regulations for any one or both of the following purposes:
(a)to make full or partial payment towards the purchase of a property;
(b)to make periodic payments towards the repayment of a loan or to make full or partial repayment of a loan,
shall not exceed 70% of the value of the property on the date of the signing of the agreement for the sale and the purchase of the property as assessed by the Board.
Informal Consolidation | Amended S 107/2001
Maximum withdrawal limit under these Regulations
8.—(1)  The total amount which may be withdrawn by a member under these Regulations for any one or both of the purposes specified in paragraph (2) shall not exceed 70% of the value of the property as assessed by the Board at the date of —
(a)the signing of the agreement for the sale and purchase of the property; or
(b)the inheritance of the property,
as the case may be.
(2)  The purposes referred to in paragraph (1) are —
(a)to make full or partial payment towards the purchase of a property; or
(b)to make periodic payments towards the repayment of a loan or to make full or partial repayment of a loan.
[S 107/2001 wef 01/03/2001]