Clause 10

Except as may be provided for in regulations made under section 29 of this Act, no withdrawals made by the authority of the Board from the Fund under section 11 of this Act nor the rights of any member of the Fund acquired thereunder shall be assignable or transferable or liable to be attached, sequestrated or levied upon for or in respect of any debt or claim whatsoever.(2) All moneys paid out of the Fund on the death of any member of the Fund shall be deemed to be impressed with a trust in favour of —

the person or persons nominated under subsection (1) of section 13A of this Act by the deceased member (if any); or

the person or persons determined by the Public Trustee in accordance with subsection (2) of section 13A of this Act to be entitled thereto,but shall, without prejudice to the operation of the Estate Duty Act (Cap. 137), be deemed not to form part of the deceased member’s estate or to be subject to his debts.(3) No contribution to the Fund or interest thereon shall be subject to the debts of the member of the Fund, nor shall such contribution or interest pass to the Official Assignee on the bankruptcy of such member, but if such member is adjudicated a bankrupt or is declared insolvent by judgment of the court, such contribution and interest shall be deemed not to form part of the property of the member.(4) The bankruptcy of an employee shall not affect the payment of contributions from the wages of the employee in accordance with the provisions of this Act, but such payment shall continue to be made notwithstanding the provisions of any written law and the portion of wages so paid shall be deemed not to form part of his after-acquired property.”.