Additional payment from amount deposited with approved bank or retained in retirement account, where member attained age of 55 years before 1 January 1987
10D.—(1)  A member who is entitled to receive payment under regulation 10C(1) or (3) may apply to the Board, in such manner as the Board may require, to be paid an additional amount from the member’s balance —
(a)if the member is entitled to receive payment under regulation 10C(1), on the later of the following:
(i)the date on which the member attains the age of 60 years;
(ii)the date the Board approves the application;
(b)if the member is entitled to receive payment under regulation 10C(3), on the later of the following:
(i)the date on which the member becomes a relevant member;
(ii)the date the Board approves the application; and
(c)at every monthly interval after the date under sub‑paragraph (a) or (b), as the case may be.
(2)  If the Board approves a member’s application under paragraph (1), the Board may —
(a)impose terms and conditions; and
(b)subject to regulation 10F, pay the member, in accordance with paragraph (1)(a) or (b) (as the case may be) and (c), such amounts as the Board may determine.
(3)  The Board may, on or after a member who is entitled to receive payment under regulation 10C(1) attains the age of 60 years or who is entitled to receive payment under regulation 10C(3) becomes a relevant member, and without any application by the member under paragraph (1), pay the member at monthly intervals such additional amounts from the member’s balance as the Board may determine.
[S 344/2017 wef 01/07/2017]