Singapore legislation
Clause 5
Clause 5
Repeal and re-enactment of section 18
Section 18 of the principal Act is repealed and the following section substituted therefor:“Transfer of member’s moneys in Fund to parent’s or spouse’s retirement account, etc.
18. The Board may, for any of the purposes mentioned in section 15(6C) and subject to such terms and conditions as it may impose, permit —
(a)
a member to transfer such portion of the sum standing to his credit in the Fund as may be prescribed to the retirement account of his parent or spouse to be applied by the parent or spouse; or
(b)
any person to voluntarily maintain a minimum sum with the Board or to pay money into his parent’s or spouse’s retirement account.”.