Maintenance of one and a half times the minimum sum by married couple
7.—(1)  Where —
(a)the spouse (referred to in this regulation as the spouse) of a member (referred to in this regulation as the member) has already maintained an amount as the minimum sum and is not exempted from maintaining a minimum sum under section 15(8) of the Act;
(b)both the member and the spouse desire to maintain jointly one and a half times the minimum sum and have both executed a memorandum each in accordance with section 15(6A) of the Act; and
(c)both the member and the spouse agree as a condition precedent to the permission to set aside one and a half times the minimum sum that in the event of the death of either one of them, an amount equivalent to the minimum sum applicable to the surviving spouse may be transferred by the Board to the retirement account of the surviving spouse,
both the member and the spouse may maintain jointly one and a half times the minimum sum in accordance with section 15(6A) of the Act.
(2)  The member referred to in paragraph (1) shall contribute —
(a)where the member and the spouse have both not attained the age of 55 years before 1st July 1995, an amount computed in accordance with the formula 0.5 MF + S
where M is the minimum sum applicable to the spouse;
F is the multiplying factor set out in the Third Schedule that is applicable to the member and the spouse; and
S is the shortfall in the minimum sum applicable to the spouse; or
(b)where the spouse has attained the age of 55 years before 1st July 1995, an amount computed in accordance with the formula (1.5M - C)F
where M is the minimum sum applicable to the spouse;
C is the amount already maintained by the spouse as the minimum sum; and
F is the multiplying factor set out in the Third Schedule.
(3)  No member and his spouse shall jointly maintain one and a half times the minimum sum with any shortfall in such sum.
(4)  The amount which the member or the spouse jointly maintains under this regulation shall comprise a proportion in cash that is in direct proportion to that required of the member or the spouse, as the case may be.
(5)  Where the amount already maintained as the minimum sum by the spouse does not comprise the proportion of cash required under paragraph (4), the member shall be liable to ensure that their maintenance of one and a half times the minimum sum comprises such required proportion in cash.
(6)  Subject to section 15 (6)(b) of the Act, the member may withdraw the whole of the balance of the moneys standing to his credit in the Fund after his contribution required under this regulation has been made.