Singapore legislation

Section 10

Citizens of Singapore may withdraw whole or part of redundancy payment in certain circumstances

(1)

Notwithstanding anything in this Act, where a member of the Fund who is a citizen of Singapore applies to the Director in writing and satisfies the Director, on such evidence as the Director may require, or as may be prescribed —

(a)

that he has the intention —

(i)

of purchasing immovable property, whether for his own use or occupation or otherwise;

(ii)

of entering into any trade, business, profession or vocation; or

(iii)

of entering into such other feasible activity as the Director may approve; or

(b)

that he is in need of money to meet any circumstances of hardship affecting him, his spouse, his children or parents,the Director shall pay out of the Fund from the moneys standing to the credit of that member such amounts as he considers adequate to enable him to carry out any of the purposes specified in paragraph (a) or to alleviate any hardship under paragraph (b).

(2)

Nothing in this section shall preclude a member of the Fund who is a citizen of Singapore from making more than one application under subsection (1) so long as there are moneys remaining in the Fund to his credit.

(3)

The decision of the Director on any application made under subsection (1) shall be final and conclusive and not subject to appeal.

(4)

When a member of the Fund who is a citizen of Singapore attains the age of 55 years he may, notwithstanding anything in this Act, apply in writing to the Director to withdraw the amount standing to his credit in the Fund and the Director shall, upon being satisfied as to the age of that member, pay out of the Fund the total amount standing to his credit in the Fund.

Read in full context — Redundancy Payments Fund Act →