Subsequent sale — effect on further application
16.—(1)  A member who has withdrawn any money under these Regulations shall on or after 10th March 1984 be entitled to make a further application for the withdrawal of money from the Fund under these Regulations in respect of another residential property if —
(a)the member has repaid to the Fund all moneys withdrawn by him under these Regulations plus interest and a period of 3 years has elapsed since the date of the repayment of such moneys and interest, whether or not the residential property in respect of which the withdrawals were made has been sold or otherwise disposed of; or
(b)the member has repaid to the Fund all moneys withdrawn by him under these Regulations plus interest and a period of 5 years has elapsed since the date of the signing of the agreement for the sale and purchase of the residential property in respect of which the withdrawals were made, or, where there is no such agreement, from such other date as may be determined by the Board in the circumstances of any particular case, whether or not such residential property has been sold or otherwise disposed of.
(2)  A member who has withdrawn any money under these Regulations shall on or after 20th July 1985 be entitled to make a further application for the withdrawal of money from the Fund under these Regulations in respect of another residential property if the member has repaid to the Fund all moneys withdrawn by him under these Regulations plus interest and a period of one year has elapsed since the date of the signing of the agreement for sale and purchase of the residential property in respect of which the withdrawals were made, or, where there is no such agreement, from such other date as may be determined by the Board, except that this paragraph shall not apply to any moneys standing to the credit of a member in the Fund which the member has not previously withdrawn for any purpose under these Regulations.
(3)  
[Deleted by S 387 /93 wef 1.10.93.]
(4)  Notwithstanding paragraphs (1) and (2), where a residential property has been purchased by two or more persons, the Board may in its discretion allow any of those persons who has previously withdrawn any money under these Regulations and who has divested himself of his interest in such residential property and has repaid all moneys withdrawn by him under these Regulations plus interest to make a further application for the withdrawal of money under these Regulations in respect of another residential property at any time after the date on which such person has divested himself of his interest in the presidential property.
(5)  
[Deleted by S 387 /93 wef 1.10.93.]