28.—(1) Subject to paragraphs (2), (4) and (5), where a member —
(a)
has withdrawn any moneys under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid); or
(b)
is required under section 27C (1) (iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a residential property,
in the event that —
(i)
the residential property or any estate or interest therein is sold, transferred, assigned or otherwise disposed of by the member without the consent of the Board;
(ii)
the residential property or any estate or interest therein is sold, transferred, assigned or otherwise disposed of by any other person, including any mortgagee, with or without the consent of the Board; or
(iii)
the residential property or any estate or interest therein is acquired under the Land Acquisition Act (Cap. 152) or any other written law,
such of the following amounts as may be applicable to the member or, if both amounts are applicable to him, the aggregate of both amounts, shall become due and payable to his account in the Fund:
(A)
if sub-paragraph (a) applies to him, all moneys withdrawn by him in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(B)
if sub-paragraph (b) applies to him, the relevant amount as defined in regulation 26(5).
(2) A member shall —
(a)
upon the occurrence of the event mentioned in paragraph (1)(ii), pay to his account in the Fund the amount agreed between the Board, the member, the mortgagee (if any) of the residential property and the other person (if any) making the sale, transfer, assignment or disposal of the residential property; or
(b)
upon the occurrence of the event mentioned in paragraph (1)(iii), pay to his account in the Fund the amount of any compensation received by him under the Land Acquisition Act or other written law.
(3) Subject to paragraphs (4) and (5), all moneys withdrawn by a member under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made, shall become due and payable to his account in the Fund in the event that —
(a)
any mortgage or encumbrance is created over the residential property without the consent of the Board; or
(b)
the member has committed a breach of any of the terms and conditions imposed by the Board in connection with the withdrawal of moneys under these Regulations.
(4) Subject to paragraph (5), where a member —
(a)
has withdrawn any moneys under these Regulations in respect of a residential property (including any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid); or
(b)
is required under section 27C (1) (iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a residential property,
then —
(i)
on the death of the member; or
(ii)
when the member is entitled to withdraw the amount standing to his credit in the Fund under section 15 (2), (3) or (4) of the Act and has complied with the requirements for such withdrawal,
such of the following amounts as may be applicable to the member or, if both amounts are applicable to him, the aggregate of both amounts, shall cease to be payable to his account in the Fund:
(A)
if sub-paragraph (a) applies to him, all moneys withdrawn by him in respect of the residential property (other than any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(B)
if sub-paragraph (b) applies to him, the relevant amountas defined in regulation 26(5).
(5) Subject to paragraph (2), where —
(a)
any event referred to in paragraph (1) or (3) occurs; and
(b)
the member —
(i)
withdraws the sum standing to his credit in the Fund under section 15 (2)(d), (e) or (f) of the Act; or
(ii)
withdraws the minimum sum or any part thereof from his account with an approved bank or his retirement account, or surrenders his approved annuity from an insurer, under section 15 (7A)(a), (b) or (ba) of the Act,
the member shall pay to his account in the Fund, in such manner as the Board may determine, such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(A)
where paragraph (1)(a) or (3) applies to him, all moneys withdrawn by him in respect of the residential property (including any moneys lent to him under section 14A of the Act in respect of the residential property and withdrawn by him which have not been repaid), together with any interest that would have been payable thereon if the withdrawal had not been made, or such part thereof as the Board may determine;
(B)
where paragraph (1)(b) applies to him, the relevant amountas defined in regulation 26(5), or such part thereof as the Board may determine.