Depositing amount referred to in section 15(6C)(b) of Act with approved bank
10.—(1)  A member who wishes to deposit the amount referred to in section 15(6C)(b) of the Act with an approved bank shall first open an account with that bank.
(2)  If the Board is satisfied that the member has opened an account with an approved bank, the Board shall transfer the amount referred to in section 15(6C)(b) of the Act and any top-up made to meet the shortfall under regulation 13A or under the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3) to the member’s account in that bank.
(3)  The moneys standing to the credit of the account of the member in the approved bank shall bear interest at such rate as may be determined by the bank from time to time.
(4)  No member shall be entitled to deposit the amount referred to in section 15(6C)(b) of the Act in more than one account with any approved bank or banks at any one time unless approved by the Board.
[S 396/2009 wef 01/09/2009]