Singapore legislation
Clause 10
Clause 10
Citizens of Singapore may withdraw the whole or part of the redundancy payment in certain circumstances
(1)
Notwithstanding anything contained 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, that he has the intention —
of purchasing immovable property, whether for his own use or occupation or otherwise;
of entering into any trade, business, profession or vocation; or
of entering into such other feasible activity as the Director may approve,the Director shall pay out of the Fund from the monies 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), (b) or (c) of this subsection.
(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) of this section so long as there are monies remaining in the Fund to his credit.
(3)
The decision of the Director on any application made under subsection (1) of this section shall be final and conclusive and not subject to appeal.