Comparison View

Formal Consolidation |  2006 RevEd
Topping-up of shortfall in minimum sum at subsequent withdrawal
13A.—(1)  Where a member —
(a)has withdrawn any money from the Fund under section 15(10) of the Act in respect of a studio apartment sold by the Housing and Development Board or under section 14A(4) of the Act; and
(b)does not have sufficient funds to maintain the minimum sum required of him in his retirement account,
the member shall, at any withdrawal after he attains the age of 55 years, transfer half the amount of moneys standing to his credit in the Fund (excluding the amount to be retained in the medisave account) to his retirement account to meet the shortfall in the minimum sum except where the amount to be transferred is less than $100.
(2)  Notwithstanding paragraph (1), a member may transfer the whole or part of the amount in his ordinary or special account to his retirement account to meet the shortfall in the minimum sum subject to such terms and conditions as the Board may impose.
Informal Consolidation | Amended S 735/2016
13A.  [Deleted by S 735/2016 wef 01/01/2017]