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the total amount secured by the member’s relevant property charges is equal to or more than the amount to be withdrawn under the member’s application; and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.