Assessing value of immovable property
13.—(1)  For the purposes of these Regulations, in assessing the value of any immovable property in respect of which —
(a)a charge is created or constituted under section 15AB(1), (2), (10), (11) or (13), 21, 21A or 21B of the Act or a former provision; or
(b)an undertaking is given under section 15AB(3) or (4) of the Act or a former provision,
the Board may appoint a Government valuer or a licensed valuer to value the immovable property and the expenses of the valuation are to be borne by the member concerned.
[S 136/2022 wef 01/03/2022]
(2)  Where a member is the spouse of any relevant person —
(a)the Board may appoint a Government valuer or licensed valuer to value any immovable property in respect of which the relevant person has transferred (other than by way of sale) his estate or interest to the member, and in respect of which a charge has been created or constituted under section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i), 27DB(2)(e), 27E(1)(h) or 27F(1)(h) of the Act or an undertaking has been given under section 27D(1)(j)(i) of the Act; and
[S 706/2012 wef 01/01/2013]
[S 592/2018 wef 01/10/2018]
[S 215/2021 wef 01/04/2021]
[S 274/2024 wef 31/12/2021]
(b)the expenses of such valuation shall be borne by the member.
[S 504/2007 wef 01/10/2007]
(3)  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]