Clause 4

The Board may, on and from time to time after 1st March 1999, accept moneys lent by the Government to any member of the Fund pursuant to any approved loan scheme.(2) The Board shall credit the moneys lent to any member under subsection (1) into the ordinary account of that member.(3) Any moneys paid into the Fund under subsection (2) shall be deemed to be contributions for the purposes of this Act and those moneys or interest thereon may be withdrawn under the provisions of any regulations made under this Act for such purposes and in such manner as may be prescribed by the regulations.(4) Notwithstanding anything in this Act, the Board may allow a member who has taken a loan from the Government pursuant to an approved loan scheme to withdraw any part of the contributions and interest standing to his credit in the Fund for the repayment of the loan and the payment of any interest or other charges which the member may from time to time be liable to pay to the Government under the terms and conditions of that loan.(5) The Board shall be entitled to receive any repayment and payment under subsection (4) on behalf of the Government.(6) Notwithstanding anything in this Act, the Board shall be entitled to recover on behalf of the Government any moneys lent to a member pursuant to any approved loan scheme and which have been paid into the Fund for the benefit of the member under subsection (2), together with any interest and other charges which the member is liable to pay to the Government under the terms and conditions of the loan from any money standing to the credit of the member’s accounts in the Fund if —

the member fails to pay any sum under the loan when due; or

the member is in breach of any other term or condition of the loan.(7) Any moneys received or recovered by the Board from any member under subsection (5) or (6) shall be refunded forthwith to the Government.(8) In this section, “approved loan scheme” means a loan scheme approved by the Minister.”.