Clause 5

by inserting, immediately after the definition of “prison officer” in section 2, the following definition:“ “Scheme” means the Occupational Superannuation Scheme established under the Prevention of Corruption Act (Cap. 241) for the benefit of officers in the Corrupt Practices Investigation Schemes of Service;”;

by deleting paragraph (e) of section 3(1) and substituting the following paragraph:“(e)all intelligence officers who are appointed on or after the commencement of the regulations, including those who were members immediately before becoming intelligence officers,”; (c)by inserting, immediately after subsection (2) of section 12, the following subsection:“(2A) The moneys referred to in subsections (1)(a) and (b) and (2) shall be paid into the INVEST Fund as capital money, and shall not be used to make payment of any dividend under the INVEST Plan.”;

by deleting the words “, but shall be administered separately from all other Government funds” in section 12(3);

by repealing section 13 and substituting the following section:“Purposes of Fund13.—

Subject to subsection (2) and section 4F(2) of the Prevention of Corruption Act (Cap. 241), the moneys in the Fund shall only be withdrawn and applied to meet any one or more of the following purposes:

the payment of any pension, gratuity, allowance, compensation or other like benefit granted under the INVEST Plan or the Scheme;

all expenses incidental to or arising from the administration, investment and management of moneys in the Fund; and

such other expenses relating to the granting of any pension, gratuity, allowance, compensation or other like benefit under the INVEST Plan or the Scheme, as the case may be, and expressly provided by written law to be met out of the Fund.(2) The Fund comprising —

such sums appropriated from the Consolidated Fund and authorised to be paid into the Fund by or under any written law to meet its liabilities under the INVEST Plan or the Scheme; and

the sum referred to in section 12(2),shall not be withdrawn and applied to meet the payment of any pension, gratuity, allowance, compensation or other like benefit granted under the Scheme, or such other expenses relating to the granting of any pension, gratuity, allowance, compensation or other like benefit under the Scheme.”;

by deleting paragraph (b) of section 16(2) and substituting the following paragraph:“(b)in respect of any officer referred to in section 4A(4)(a) of the Prevention of Corruption Act (Cap. 241) who opts to join the Scheme under that Act.”; (g)by deleting paragraph (a) of section 20(1) and substituting the following paragraph :“(a)to advise on the interest rates for the purposes of the INVEST Plan or the Scheme;”; (h)by inserting, immediately after subsection (2) of section 23, the following subsection:“(2A) Notwithstanding subsection (1), where an amendment is made to the Scheme, and the amendment affects the cost of benefits payable under the Scheme or creates an initial unfunded liability, the Minister charged with the responsibility for the Scheme may, for the purposes of section 12(1)(a), appoint a person to make an examination and report on the state of the Fund.”;

by deleting the words “or (2)” in the 1st line of section 23(3) and substituting the words “, (2) or (2A)”;

by inserting, immediately after the words “the Minister” in the 3rd line of section 23(3), the words “referred to in subsection (2) or (2A), as the case may be,”;

by inserting, immediately after the words “The Minister” in section 23(4), the words “referred to in subsection (2) or (2A), as the case may be,”; and

by inserting, immediately after the words “INVEST Plan” in the following provisions, the words “or the Scheme”":Sections 15(1) (5th line) and 16 (1) (penultimate line).