“annuity plan” has the same meaning as in section 27J of the Act;
“applicable member” means a member who is a person referred to in paragraph 3(2)(b), (h), (i), (j) or (k) of the Retirement and Re-employment (Exemption) Notification 2011 (G.N. No. S 560/2011);
[S 706/2012 wef 01/01/2013]
“approved annuity” means an annuity for life, purchased from an insurer, which is approved by the Board;
“approved bank” means any bank approved by the Board;
“bank” has the same meaning as in the Banking Act (Cap. 19);
“insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore ;
[S 394/2009 wef 01/09/2009]
“Lease Buyback Scheme” means a scheme administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money —
(a)
which is to be paid in accordance with the terms and conditions of the scheme; and
(b)
the whole or part of which may be used for the payment of a premium for an annuity plan under the Scheme;
[S 477/2013 wef 01/08/2013]
“relevant member” and “Scheme” have the same meanings as in section 27J of the Act.