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Amendments are not highlighted in legislation amended before 2012. We are working on it.
Formal Consolidation |  2006 RevEd
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.
Informal Consolidation | Amended S 394/2009
Purchase of approved annuity with amount referred to in section 15(6C)( b) of Act
18.—(1)  Where a member elects to use the amount referred to in section 15(6C)(b) of the Act 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 any part of that amount 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 that amount, any interest accrued on that amount.
[S 394/2009 wef 01/09/2009]
(2)  Any payment from the approved annuity shall be determined in accordance with the terms and conditions of the approved annuity.