Singapore legislation
Clause 5
Clause 5
Amendment of section 15
Section 15 of the principal Act is amended —
(a)
by deleting the words “third anniversary of his date of birth after he has attained the age of 55 years” in the penultimate and last lines of subsection (3) and substituting the words “first anniversary of his date of birth after he has attained the age of 55 years or such other period as the Minister may direct”; and
(b)
by inserting, immediately after the word “claim” in the last line of subsection (12), the words “, or be subject to any right of set-off by the approved bank for any debt owing by the member to the approved bank”.