Purchase of approved annuity with minimum sum
18.—(1)  Where a member elects to use the amount deposited as the minimum sum to purchase an approved annuity from an insurer, the Board shall, at the request of the member, forward to the insurer in payment for such purchase —
(a)the whole or part of the amount maintained as the minimum sum and any top-up made to meet the shortfall under regulation 8 or under the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3); and
(b)where the purchase price of the approved annuity exceeds the amount referred to in sub-paragraph (a), any interest accrued on such amount.
(2)  Any payment from the approved annuity shall be determined in accordance with the terms and conditions of the approved annuity.