| Withdrawal from minimum sum and payment from approved annuity |
| Payment from amount deposited with approved bank or in retirement account, in general |
12.—(1) Where a member is not a relevant member, and any amount of his minimum sum is deposited with an approved bank or in his retirement account under section 15(6C)(b)(i) of the Act, he may, subject to paragraphs (2), (3), (4) and (5) and regulations 12A and 13, on attaining the age of 60 years and at every monthly interval thereafter, be paid from the amount so deposited and any interest accruing thereon, the amount specified in regulation 14(1).
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