Transfer to retirement account of certain moneys credited or refunded to ordinary account or special account under section 19, 19A or 19D of Act
5C.—(1)  This regulation applies where —
(a)an amount of money is transferred from a member’s ordinary account or special account (called in this regulation Account A) to the member’s retirement account under section 15(6) or (6CA) of the Act;
(b)the whole or part of the transferred amount in sub-paragraph (a) is then restored from the member’s retirement account to Account A under section 13(7H) of the Act;
(c)the restored amount in sub-paragraph (b) is then transferred —
(i)to the retirement account of a relevant individual under section 18(1)(a) or (2)(a) of the Act; or
(ii)to the special account of a relevant individual under section 18(3)(a) of the Act; and
(d)the transferred amount in sub-paragraph (c), or the balance of that amount, is then —
(i)credited to Account A under section 19(2) or 19A(2) of the Act; or
(ii)refunded to Account A under section 19D(2) or (7)(a) of the Act.
[S 1014/2021 wef 01/01/2022]
(2)  The Board must transfer the lower of the following amounts under section 15(6CA) of the Act from Account A to the member’s retirement account:
(a)the shortfall in the retirement sum applicable to the member;
(b)the credited or refunded amount.
[S 366/2019 wef 10/05/2019]
[S 1014/2021 wef 01/01/2022]
[S 1014/2021 wef 01/01/2022]