Application for cancellation of charge on immovable property
22.—(1) For the purposes of sections 21(10A), 21A(9A) and 27E(2)(ii) of the Act, where there is a charge under section 21(1) or 21A(1) of the Act, as the case may be, on a member’s estate or interest in an immovable property, the member may apply to the Board for the charge to be cancelled.
(2) The Board may approve an application under paragraph (1) for the charge to be cancelled if the Board is satisfied that the member —
(a)
is entitled to withdraw the amount standing to his credit in the Fund under section 15(2)(a), (d), (e), (f) or (g), (3), (4), (7A) or (8) of the Act;
(b)
has complied with the requirements in section 15(2A), (6), (7B) or (8A) of the Act, as the case may be; and
(c)
has complied with such terms and conditions as the Board may impose.