Withdrawal for payment upon transfer (other than by way of sale) of property
5A.—(1)  Where a member (referred to in this paragraph as the transferor), being a joint-owner of a property, will or is required to transfer (other than by way of sale) his estate or interest in the property to another member (referred to in this paragraph as the transferee), also being a joint-owner of the property, the transferee may apply to the Board to withdraw the whole or any part of the amount standing to the transferee’s credit in the Fund for the payment of any amount which the transferor is required, under these Regulations, to pay to the transferor’s account in the Fund upon the transfer.
(2)  The Board may approve an application under paragraph (1) subject to such terms and conditions as it may impose.
[S 705/2007 wef 01/01/2008]