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Formal Consolidation |  2006 RevEd
Minimum sum required of member
4.  The minimum sum applicable to a member shall —
(a)be the appropriate amount set out in the second column of the Second Schedule; and
(b)comprise an amount in cash which is at least that specified in the third column of the Second Schedule and an amount covered by a charge on or pledge of an immovable property made under section 15 (9), (9A), (10) or (10A), 21, 21A or 21B of the Act which does not exceed that specified in the fourth column of that Schedule.
Informal Consolidation | Amended S 504/2007
Minimum sum required of member
4.—(1)  The minimum sum applicable to a member shall —
(a)be the appropriate amount set out in the second column of the Second Schedule; and
(b)comprise —
(i)an amount in cash which is at least that specified in the third column of the Second Schedule; and
(ii)an amount (not exceeding that specified in the fourth column of that Schedule) covered by a charge on or pledge of an immovable property —
(A)under section 15 (9), (9A), (10) or (10A), 21, 21A or 21B of the Act; or
(B)where the member is the spouse of any relevant person, under section 15 (9), (9A), (10) or (10A), 21, 21A, 21B, 27C(1)(v), 27D(1)(v), 27E(1)(iv) or 27F(1)(iv) of the Act.
(2)  In this regulation —
“relevant person” means any member of the Fund, regardless of when he has attained or will attain the age of 55 years, who has transferred (other than by way of sale) his estate or interest in an immovable property to his spouse pursuant to an order of court (as defined in section 27A of the Act);
“spouse” includes a former spouse.
[S 504/2007 wef 01/10/2007]