Benefits of self‑employed eligible member under Scheme
12.—(1)  Subject to paragraphs (2) and (4) and regulation 14A, the Board must, as soon as practicable after a self‑employed eligible member is entitled to receive any benefit —
(a)make a cash payment to the member of an amount, rounded up to the nearest dollar, equivalent to one‑tenth of the value of all benefits which the member is entitled to receive; and
(b)credit, to the member’s medisave account, a relevant contribution, of an amount equivalent to the difference between —
(i)the value of all benefits which the member is entitled to receive; and
(ii)the value of the cash payment under sub‑paragraph (a).
[S 889/2019 wef 01/01/2020]
(2)  Instead of making a cash payment under paragraph (1)(a), the Board may credit, to the self‑employed eligible member’s ordinary account, special account or medisave account as the Minister may direct, an additional relevant contribution of an amount equivalent to the value of the cash payment if —
(a)the Board has attempted to make the cash payment by issuing a cheque to the member;
(b)the Board has notified the member of the issue of the cheque; and
(c)the member fails to encash the cheque before the cheque expires.
(3)  The value of the benefits which a self‑employed eligible member is entitled to receive in a relevant year is the amount, rounded to the nearest dollar, determined in accordance with the formula , where —
(a)A is the amount that is applicable to the member as set out —
(i)in the Fourth Schedule if the relevant year is 2017, 2018 or 2019;
[S 1028/2022 wef 01/01/2023]
(ii)in the Seventh Schedule if the relevant year is 2020, 2021 or 2022; or
[S 1028/2022 wef 01/01/2023]
(iii)in the Tenth Schedule if the relevant year is 2023 or any subsequent year; and
[S 1028/2022 wef 01/01/2023]
(b)B is the total number of months in the relevant year in which the member worked as a self‑employed person.
(4)  Despite paragraphs (1) and (2), where a self‑employed eligible member is entitled to receive any benefit in a relevant year —
(a)the Board may, in its discretion —
(i)make a cash payment, of an amount as the Minister may direct, to the member;
(ii)credit, to the member’s ordinary account, special account or medisave account as the Minister may direct, a relevant contribution, of an amount as the Minister may direct, in favour of the member; or
(iii)credit an additional relevant contribution under paragraph (2), of an amount as the Minister may direct, in favour of the member; and
(b)the amount in sub‑paragraph (a) may exceed the amount of the cash payment, relevant contribution or additional relevant contribution (as the case may be) which the member is otherwise entitled to receive in that relevant year.