Specified amount
14.—(1)  For the purposes of regulations 3(2), 12(1), (3) and (4) and 13, the specified amount shall be as follows:
Specified amount
 
Operative date
(a) $230
 
from 1st January 1987 to 31st March 1994.
(b) $237
 
from 1st April 1994 to 31st March 1995.
(c) $243
 
from 1st April 1995 to 31st March 1996.
(d) $251
 
from 1st April 1996 to 31st March 1997.
(e) $260
 
from 1st April 1997 to 31st March 1998.
(f) $266
 
from 1st April 1998 to 31st March 1999.
(g) $272
 
from 1st April 1999 to 30th June 2000.
(h) $282
 
from 1st July 2000 to 30th June 2001.
(i) $287
 
from 1st July 2001 to 30th June 2002.
(j) $291
 
From 1st July 2002 to 30th June 2003.
(k) $297
 
From 1st July 2003.
(2)  For the purposes of regulation 12(2), the specified amount shall be as follows:
Specified amount
 
Operative date
(a) $345
 
from 1st January 1987 to 31st March 1994.
(b) $355
 
from 1st April 1994 to 31st March 1995.
(c) $365
 
from 1st April 1995 to 31st March 1996.
(d) $377
 
from 1st April 1996 to 31st March 1997.
(e) $390
 
from 1st April 1997 to 31st March 1998.
(f) $399
 
from 1st April 1998 to 31st March 1999.
(g) $408
 
from 1st April 1999 to 30th June 2000.
(h) $423
 
from 1st July 2000 to 30th June 2001.
(i) $431
 
from 1st July 2001 to 30th June 2002.
(j) $437
 
from 1st July 2002 to 30th June 2003.
(k) $446
 
from 1st July 2003.
(3)  Notwithstanding paragraph (1), where a member has purchased an approved annuity with the minimum sum which he is required to set aside under section 15(6) of the Act, the Board may, in its discretion and subject to such terms and conditions as it may impose, authorise the insurer to pay to the member a monthly income which is less than the amount specified in paragraph (1).