(3) For the purposes of assessing the value of any immovable property in respect of which a charge has been created or constituted under section 15AB(1), (2), (10) or (11) of the Act or a former provision, or section 21, 21A, 21B, 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i), 27E(1)(h) or 27F(1)(h) of the Act or an undertaking has been given under section 15AB(3) or (4) of the Act or a former provision, or section 27D(1)(j)(i) of the Act, the Board may appoint a Government valuer or a licensed valuer to value the immovable property and the expenses of such valuation shall be borne by the member concerned.
[S 503/2007 wef 01/10/2007]
[S 708/2012 wef 01/01/2013]
[S 591/2018 wef 01/10/2018]
[S 272/2024 wef 31/12/2021]
[S 137/2022 wef 01/03/2022]
(4) Where a member is required to pay the expenses of any valuation under paragraph (3), the Board may, on application being made by the member, and subject to such terms and conditions as it may impose, permit the member to withdraw the whole or part of the amount standing to his credit in the Fund for the payment of such expenses.