Comparison View

Formal Consolidation |  Amended S 820/2010
Transfer of moneys where member’s accounts in Fund are deemed to be dormant
10.—(1)  The Board may, at any time after 6 months from the date on which a member’s accounts in the Fund are deemed to be dormant, transfer the amount standing to the credit of the member in his medisave account, special account, retirement account and living expenses account to his ordinary account.
(2)  Where the Board has made a transfer under paragraph (1) and —
(a)no restoration of the moneys under regulation 12 has taken place; and
(b)there are moneys standing to the credit of the member in his ordinary account,
the Board may, at any time after the 7th anniversary of the date on which the member’s accounts in the Fund are deemed to be dormant, transfer the amount standing to the credit of that member in his ordinary account to the general moneys of the Fund.
(3)  In this regulation and regulation 11, “living expenses account” means an account maintained by the Board for a member of the Fund in respect of any amount standing to his credit in the Fund which he is required to set aside under any condition referred to in section 27(2)(b) or (3) of the Act.
[S 820/2010 wef 01/01/2011]
Informal Consolidation | Amended S 565/2014
Transfer of moneys where member’s accounts in Fund are deemed to be dormant
10.—(1)  The Board may, at any time after 6 months from the date on which a member’s accounts in the Fund are deemed to be dormant, transfer the amount standing to the credit of the member in his medisave account, special account, retirement account and living expenses account to his ordinary account.
(2)  Where the Board has made a transfer under paragraph (1) and —
(a)no restoration of the moneys under regulation 12 has taken place; and
(b)there are moneys standing to the credit of the member in his ordinary account,
the Board may, at any time after the 7th anniversary of the date on which the member’s accounts in the Fund are deemed to be dormant, transfer the amount standing to the credit of that member in his ordinary account to the general moneys of the Fund.
(3)  [Deleted by S 565/2014 wef 01/09/2014][S 820/2010 wef 01/01/2011]