5.—(1) Any member who wishes to deposit the additional sum with an approved bank or banks may apply to the Board in such form and manner as the Board may determine.
(2) Any application for approval under paragraph (1) shall be made before 1st January 2014 and shall contain such information and particulars as the Board may require.
[S 848/2013 wef 01/01/2014]
(3) If the Board is satisfied that the member has opened an account with an approved bank or banks and that the account is to be used solely for the purpose of depositing the additional sum, the Board shall (before 1st January 2014) transfer the member’s additional sum to his account in the bank or banks.
[S 848/2013 wef 01/01/2014]
(4) A member is entitled at any one time to deposit the additional sum in more than one account with any approved bank.