Comparison View

Formal Consolidation |  Amended S 735/2016
Payment from amount retained in retirement account where there is relevant property charge
12B.—(1)  This regulation applies if, at the time the Board considers a member’s application under this regulation —
(a)the member has a relevant property charge;
(b)the amount secured by the relevant property charge is more than or equal to the amount to be withdrawn if the member were to make a withdrawal under this regulation; and
(c)the member satisfies such terms and conditions as the Board may impose.
(2)  The Board may, on the application of a member, allow the member to withdraw the whole or part of the amount retained in the member’s retirement account under section 15(6C)(a) of the Act.
(3)  The Board may approve an application under paragraph (2) on such terms and conditions as the Board may impose.
[S 735/2016 wef 01/01/2017]
Informal Consolidation | Amended S 591/2018
Payment from amount retained in retirement account where there is relevant property charge
12B.—(1)  Paragraph (2) applies if, at the time the Board considers a member’s application under that paragraph —
(a)the member has any relevant property charge;
(b)the total amount secured by the member’s relevant property charges is equal to or more than the amount to be withdrawn under the member’s application; and
(c)the member satisfies such terms and conditions as the Board may impose.
[S 591/2018 wef 01/10/2018]
(2)  The Board may, on the application of a member, allow the member to withdraw the whole or part of the amount retained in the member’s retirement account under section 15(6C)(a) of the Act.
(3)  The Board may approve an application under paragraph (2) on such terms and conditions as the Board may impose.
[S 735/2016 wef 01/01/2017]