Transfer to ordinary account of moneys credited to retirement account under section 19 or 19A of Act in excess of retirement sum
8C.—(1) This regulation applies where —
(a)
a member’s moneys in the retirement account is transferred —
(i)
to the retirement account of a relevant individual under section 18(1)(a) or (2)(a) of the Act; or
(ii)
to the special account of a relevant individual under section 18(3)(a) of the Act; and
(b)
the transferred amount in sub‑paragraph (a), or the balance of that amount, is then credited to the member’s retirement account under section 19(2) or 19A(2) of the Act.
[S 788/2017 wef 01/01/2018]
(2) Upon the crediting of the amount in paragraph (1)(b), the Board must transfer the credited amount to the member’s ordinary account.