Singapore legislation
Section 19B
Section 19B
Exceptions to sections 19(1) and (2) and 19A(1) and (2)
(1)
Despite sections 19(1) and (2) and 19A(1) and (2), where a relevant individual —
dies; or
withdraws any sum from the Fund under section 15(2)(b) or (c),the amount of the relevant individual’s transferred moneys mentioned in subsection (2) standing in any account in the Fund of the relevant individual on the death or withdrawal —
must not be credited to the account from which it was transferred under section 18(1)(a), (2)(a) or (3)(a), as the case may be; but(d)forms part of the moneys payable out of the Fund on the death of the relevant individual or that may be withdrawn from the Fund by the relevant individual under section 15(2)(b) or (c), as the case may be.
(2)
Subsection (1) applies to the amount of the relevant individual’s transferred moneys that —
before the relevant event occurs in relation to the relevant individual, is withdrawn from the relevant individual’s retirement account or special account (as the case may be) under any applicable provision, and then restored to any account of the relevant individual in the Fund because —
the payment of the withdrawn moneys was unsuccessful; or (ii)the instrument in respect of that payment was returned to the Board or had expired; (b)before the relevant event occurs in relation to the relevant individual, is transferred to any other account of the relevant individual in the Fund under any applicable provision;
before the relevant event occurs in relation to the relevant individual, is dealt with in any other way prescribed for the purposes of this paragraph in regulations made under section 77(1); or
on the occurrence of the relevant event in relation to the relevant individual, remains standing to the credit of the relevant individual in the Fund in any circumstances prescribed in regulations made under section 77(1).
(3)
Any payment by the Board, made before 1 January 2020, from a relevant individual’s transferred moneys that would, if made on or after that date, be valid under subsection (1) is taken to be and always to have been validly made; and no legal proceedings lie or may be instituted or maintained, in any court of law on account of or in respect of such payment.
(4)
In this section —
Definition
“applicable provision” means section 15(2)(d), (e), (f) or (g), (2B), (7), (7C) or (8B);
Definition
“relevant event”, in relation to a relevant individual, means the event mentioned in subsection (1)(a) or (b) that occurs in relation to the relevant individual;
Definition
“relevant individual’s transferred moneys” means the amount of moneys transferred from a member’s account in the Fund to —
the relevant individual’s retirement account under section 18(1)(a) or (2)(a); or
the relevant individual’s special account under section 18(3)(a).