Clause 3

The Board may, subject to such terms and conditions as it may impose, permit a member of the Fund to withdraw such portion of the sum standing to his credit in the Fund as may be prescribed for the payment of tuition fees payable by that member, his child or such other relative as may be approved by the Board, for a course of study at an approved tertiary institution.(2) Every application for withdrawal under subsection (1) shall be made to the Board on such form or forms as may be approved by the Board.(3) Where a member wishes to make any withdrawals for himself, his child or relative for the purpose of subsection (1), that member, child or relative shall —

give an undertaking to the Board; and

if required by the Board, furnish a guarantee by any person acceptable to the Board,for the repayment to the Board to the account of that member in the Fund from whose account such withdrawals were made, all such withdrawals plus interest in such manner and within such time as may be prescribed.(4) An undertaking given to the Board by any person under subsection (3) shall be enforceable notwithstanding that that person was a minor at the time the undertaking was given.(5) Notwithstanding anything in this Act, any sum not returned to the Board to the account of the member in the Fund under subsection (3) shall be deemed to be a debt due to the Board and may be sued for by the Board in any court.(6) In this section —“approved tertiary institution” means any tertiary institution in Singapore approved by the Minister for the purpose of this section;“relative” means a person who is related to a member and who is dependent on that member for his care and maintenance;“tuition fees” include any administrative fees imposed by the Board in respect of any withdrawals made by a member under this section.Regulations21B. The Minister may make such regulations as are necessary or expedient for the purpose of carrying out the provisions of section 21A and, in particular, such regulations may —

prescribe the amount and the manner in which withdrawals may be made by members;

provide for the manner and time for the repayment of such withdrawals by members and other persons who have utilised the withdrawals;

provide for such information, evidence and documents that the Board may require from members of the Fund and other persons who have utilised such withdrawals; and

prescribe anything which may be prescribed by the Minister under section 21A.”.