Clause 36

No payment payable out of the Singapore and Penang Harbour Boards Provident Fund (hereinafter referred to as “the Joint Provident Fund”) nor any right or interest acquired by any person thereunder shall be assignable or transferable or liable to be attached, sequestered or levied upon for or in respect of any debt or claim whatsoever.

Any moneys paid out of the Joint Provident Fund on the death of any person shall be deemed to be impressed with a trust in favour of the persons entitled thereto under the will or intestacy of such deceased person, and shall not be deemed to form part of his estate or be subject to the payment of his debts but shall be deemed to be property passing on his death for the purposes of the Estate Duty Ordinance (Cap. 162).

Any person may by will or by a memorandum under his hand appoint a trustee or trustees of the moneys payable on his death out of the Joint Provident Fund and may make provision for the appointment of a new trustee or new trustees of such moneys and for the investment thereof.

If at the time of the death of any person or at any time afterwards, there is no trustee of such moneys or it is expedient to appoint a new trustee or new trustees, then and in any such case, a trustee or trustees or a new trustee or new trustees may be appointed by the High Court or a Judge thereof.

The receipt of a trustee or trustees duly appointed, or in default of any such appointment and of written notice thereof to the Authority the receipt of the legal personal representative of a deceased person, shall be a discharge to the Authority for any moneys payable on his or her death out of the Joint Provident Fund.

Any officer or servant of the Authority who is a contributor to the Joint Provident Fund shall, if he is dismissed the service of the Authority for fraud or dishonesty or misconduct, which involves pecuniary loss to the Authority, or retires from or resigns his office with intent to escape discharge or dismissal in consequence of such fraud, dishonesty or misconduct, forfeit, at the absolute discretion of the Authority, all or any part of his contribution to the Fund and the interest accrued thereon and the accumulations thereof, and shall also lose all benefits whatever from the Fund, except that the Authority may, at its discretion, direct the repayment to him of the whole or such part of his contributions to the Fund and the interest accrued thereon and the accumulations thereof as the Authority in its discretion thinks fit.