Singapore legislation
Section 19C
Section 19C
Exceptions to sections 19(5) and (6) and 19A(5) and (6)
(1)
Despite sections 19(5) and (6) and 19A(5) and (6), the amount of a payee’s paid moneys mentioned in subsection (2) that, on the death of the payee, is standing in any of the payee’s accounts in the Fund —
must not be credited to the account mentioned in section 19(6) or 19A(6) (as the case may be) on the death of the payee; but(b)forms part of the moneys payable out of the Fund on the death of the payee.
(2)
Subsection (1) applies to the amount of the payee’s paid moneys that —
before the death of the payee, is withdrawn from the payee’s retirement account or special account (as the case may be) under any applicable provision, and then restored to any account of the payee in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the payment of the withdrawn moneys was unsuccessful; or (ii)the instrument in respect of that payment was returned to the Board or had expired;
before the death of the payee, is transferred to any other account of the payee in the Fund under any applicable provision;
before the death of the payee, is dealt with in any other way prescribed for the purposes of this paragraph in regulations made under section 77(1); or
on the death of the payee, remains standing to the credit of the payee 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 payee’s paid 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
“payee” means —
in relation to moneys paid by any person into the retirement account of a member under section 18(1)(b) or (2)(b) — the person’s parent, grandparent, spouse or sibling to whose retirement account the moneys were paid under that section; and
in relation to moneys paid by any person into the special account of a member under section 18(3)(b) — the person’s spouse or sibling to whose special account the moneys were paid under that section;
Definition
“payee’s paid moneys” means the moneys paid by any person, before 1 November 2008, into —
the retirement account of the payee (being the person’s parent, grandparent, spouse or sibling) under section 18(1)(b) or (2)(b) as in force immediately before that date; or
the special account of the payee (being the person’s spouse or sibling) under section 18(3)(b) as in force immediately before that date.