Clause 7

by deleting the words “the Housing Authority” in the fifth line of subsection (1) and substituting the words “a Housing Authority or an approved mortgagee”;

by inserting, immediately after the word “Authority” in the sixth line of subsection (1), the words “or approved mortgagee, as the case may be,”; and

by deleting subsection (2) and substituting the following subsections:“(2) Subject to section 26, the Scheme shall apply to every member who has withdrawn any money from the Fund pursuant to any regulations made under section 45 —

for the purchase of a house or flat from a Housing Authority and the house or flat has been mortgaged to that Authority to secure the repayment of any loan given to the member; or

for the purchase of a house or flat from the Housing and Development Board and the house or flat has been mortgaged to an approved mortgagee to secure the repayment of any loan given to the member by the approved mortgagee.(2A) The Scheme shall not apply to —

any member if he is 55 years of age or above at the date when payment of the premium is due to be paid under section 22; or

such members or class of members whom the Minister may, by notification in the Gazette, specify.”.