Schedule 1

In this Schedule, unless the context otherwise requires —“ASPF” means the Academic Staff Provident Fund;“ASPFAIS Investment” means an investment effected under Clause 19E of Statute 18;“ASPF member” means a person who is a member of the ASPF Scheme and who is in the service of the university company as at the dissolution date;“ASPF moneys” means the moneys standing to the credit of any person under the ASPF Scheme;“assets of the ASPF” means all property, assets, rights and interests of every description relating to the ASPF Scheme which immediately before the date of the dissolution notice were vested in the university company or the Trustees, including, without limitation, all moneys, mortgages (legal or equitable) of immovable property and investments (including assurance policies and unit trusts);“balance of the assets of the ASPF” means the assets of the ASPF excluding —

the ASPF moneys, ASPFAIS Investments or Part V Assurances to be assigned or transferred to any relevant person under paragraph 5(b);

the ASPF moneys, ASPFAIS Investments or Part V Assurances standing to the credit of each living relevant person under the ASPF Scheme credited or to be credited to his CPF account under paragraph 18 or 19;

the ASPF moneys, ASPFAIS Investments or Part V Assurances to be retained by the university company under paragraphs 33 and 40;

the mortgages (whether legal or equitable), in relation to the mortgaged properties under the ASPF Scheme, to be transferred to and vested in the CPF Board under paragraph 25(1); and

the mortgages (whether legal or equitable), in relation to the mortgaged properties under the ASPF Scheme, to be retained by the university company under paragraphs 37 and 44,after the deduction of the liabilities of the ASPF Scheme and the expenses of winding up the ASPF Scheme;“Board of Management” means the board of management of the ASPF Scheme constituted under Clause 8(a) of Statute 18;“CPF” means the Central Provident Fund established under the Central Provident Fund Act (Cap. 36);“CPF account” means an account maintained under the Central Provident Fund Act;“CPFIS” means the Central Provident Fund Investment Scheme established under the Central Provident Fund Act;“CPF member” means a person who is a member of the CPF within the meaning of section 2(1) of the Central Provident Fund Act;“date of the dissolution notice” means the date on which the dissolution notice is given under paragraph 2;“deceased relevant person” means a relevant person who is not uncontactable and who dies before the dissolution date;“dissolution notice” means the notice to be given by the university company to the relevant persons under paragraph 2;“expenses of winding up the ASPF Scheme” means all expenses including legal and accounting costs of winding up the ASPF Scheme and any legal costs and stamps fees incurred in connection with the transfer of the property, assets, rights and interests relating to the ASPF Scheme to the CPF Board, whether incurred before, on or after the date of the dissolution notice;“Interest Equalisation Reserve Account” means the account established under Clause 11(ii) of Statute 18;“Investment Depreciation Reserve Account” means the account established under Clause 13(i) of Statute 18;“Investment Fund” means the Investment Fund constituted under Clause 5 of Statute 18;“living relevant person” means any relevant person who is alive immediately before the dissolution date;“mortgaged property under the ASPF Scheme” means any immovable property with a mortgage (whether legal or equitable) in favour of the university company which secures a withdrawal of ASPF moneys to finance the purchase of the property or to finance or re-finance the payment of a housing loan taken out for the purchase of the property;“notice period” means the period from the date of the dissolution notice to the dissolution date;“Part V Assurance” means a life or endowment assurance effected under Part V of Statute 18;“relevant person” means any person who, before the dissolution date, had ASPF moneys, ASPFAIS Investments or Part V Assurances standing to his credit under the ASPF Scheme or a mortgaged property under the ASPF Scheme;“Trustees” means the trustees of the ASPF Scheme;“working day” means any day other than a Saturday, Sunday or public holiday.(2) In this Schedule, a relevant person shall be treated as uncontactable if —

he does not have a CPF account; and

the university company is not in possession of any of the following details or documents in respect of him which is necessary for the opening of a CPF account:

his nationality;

in the case of a relevant person who is a citizen of Singapore, his Singapore national registration identification number;

in the case of a relevant person who is not a citizen of Singapore, his passport number and foreign identification number, a copy of each page of his passport which contains his identification information and a copy of his foreign identification card; and

his date of birth,despite reasonable efforts made by the university company to obtain such details or documents.Notification of dissolution of ASPF Scheme

on a date which is at least 12 months before the dissolution date, give a written notice to each relevant person who is not uncontactable of its intention to wind up the ASPF Scheme; and

on the 7th working day after the date on which the dissolution notice is given, cause the dissolution notice to be published in a local daily English newspaper circulating generally in Singapore.

where the dissolution notice is sent by post to the relevant person’s address —

if the address is within Singapore, within 2 clear working days; or

if the address is outside Singapore, within 5 clear working days,after the notice was posted and in proving service of the notice, it shall be sufficient to prove that the envelope containing the notice was addressed, stamped and posted;

where the dissolution notice is delivered by hand, immediately upon delivery to the relevant person or upon it being left at the relevant person’s mailbox at the university company’s premises designated by the university company for use by the relevant person;

where the dissolution notice is in the form of an electronic mail sent to the relevant person’s electronic mail address, on the date and at the time stated in the electronic acknowledgment of receipt by the relevant person which is received by the university company; or

upon the publication of the dissolution notice in the local daily English newspaper under paragraph 2(b),whichever is the earliest in time.

the relevant address of a relevant person in paragraph 3(a) shall be the last-known address of the relevant person according to the university company’s records;

the relevant electronic mail address of an ASPF member in paragraph 3(c) is the electronic mail address bearing the internet domain name “nus.edu.sg” which is assigned by the university company to the ASPF member.Relevant person 55 years of age or above

having his ASPF moneys, ASPFAIS Investments or Part V Assurances transferred to his CPF account or a CPF account opened for him in accordance with paragraph 15, as the case may be; or

having his ASPF moneys, ASPFAIS Investments or Part V Assurances transferred or assigned to him, or to have the mortgage in relation to his mortgage property under the ASPF Scheme discharged, as the case may be, subject to the condition that he —

has sufficient money set aside for the purposes of section 15(6) of the Central Provident Fund Act (Cap. 36); or

sets aside such amount of ASPF moneys to be transferred to his CPF account or a CPF account opened for him in accordance with paragraph 15, as the case may be, for the purposes of section 15(6) of the Central Provident Fund Act.

Prior to the dissolution date, the Board of Management shall assign every Part V Assurance and ASPFAIS Investment held in the name of the predecessor university on behalf of any relevant person who is not uncontactable back to the relevant person.(2) For the avoidance of doubt, any Part V Assurance or ASPFAIS Investment so assigned shall, notwithstanding the assignment, be considered to be standing to the credit of the relevant person under the ASPF Scheme.Dissolution of ASPF Scheme and transfer of ASPF moneys

The university company shall —

cause the accounts of the ASPF to be prepared up to the date immediately before the dissolution date; and

within 30 days of the dissolution date, compute the respective share of the balance of the assets of the ASPF, if any, in respect of each relevant person who has ASPF moneys standing to his credit in the ASPF Scheme immediately before the dissolution date pro rata to the average of the balances of ASPF moneys in his account at the end of each quarter for the period commencing after the last periodical valuation conducted pursuant to Clause 13 of Statute 18 and ending on the date immediately before the dissolution date,and thereupon close the accounts of the ASPF.(2) The university company shall, as soon as practicable after the accounts of the ASPF are closed, cause the accounts to be audited and shall after such audit deliver the audited accounts to the CPF Board.

give full particulars of the assets of the ASPF and full particulars of the Investment Fund, the Interest Equalisation Reserve Account and the Investment Depreciation Reserve Account;

provide details of the ASPF moneys standing to the credit of each living relevant person under the ASPF Scheme and to be transferred to the CPF Board under paragraph 13(b); and

provide details of the respective share of the balance of the assets of the ASPF of each living relevant person who has ASPF moneys standing to his credit in the ASPF Scheme immediately before the dissolution date computed under paragraph 11(1)(b) to be transferred to his CPF ordinary account under paragraph 20.

the ASPF Scheme shall be dissolved;

the ASPF moneys, including (where applicable) interest under clause 11(i) of Statute 18, to be credited under paragraph 18 to the CPF accounts of each living relevant person who is not uncontactable (other than a relevant person who has opted for those moneys to be transferred or assigned to him under paragraph 5(b)) shall, be transferred to the CPF Board; and

the balance of the assets of the ASPF, if any, shall be retained by the university company to be held on trust for the relevant persons who have ASPF moneys immediately before the dissolution date.

Each mortgage (whether legal or equitable) in favour of the university company in relation to any mortgaged property under the ASPF Scheme of a living relevant person who is not uncontactable shall, on the dissolution date, be transferred to and vest in the CPF Board.(2) The CPF Board shall, in respect of any mortgage referred to in sub-paragraph (1) and the liabilities thereby secured, be entitled to the same rights and priorities and subject to the same obligations and incidents on and after the dissolution date as the university company would have been entitled and subject to if the mortgage had continued to be held by the university company or in the university company’s favour.

is approved or participating under the CPFIS;

is approved or participating under any investment scheme referred to in Clause 19E of Statute 18; or

has issued any Part V Assurance,as the case may be, such information relating to —

the assets of the ASPF;

any person who has, at the date of the dissolution notice, any ASPF moneys, Part V Assurance, ASPFAIS Investment or mortgaged property under the ASPF Scheme;

the accounts under the ASPF of any person referred to in sub-paragraph (ii);

the CPF accounts of any person referred to in sub-paragraph (ii); and

the contact details of any person referred to in sub-paragraph (ii),as the university company or the CPF Board thinks necessary to facilitate the dissolution and transfer of assets.

himself;

any of his moneys, investments, assurances or mortgaged property;

his account in the ASPF Scheme; or

his CPF accounts,has been disclosed under paragraph 30 shall be deemed to have given his consent to such disclosure.Claims against ASPF Scheme32.—

Upon the dissolution of the ASPF, no relevant person shall have any claim against the ASPF Scheme, the university company, the Trustees or the CPF Board other than in accordance with and pursuant to the provisions of this Schedule.(2) Notwithstanding sub-paragraph (1) but subject to the first and paramount lien or charge vested in the university company pursuant to Clause 7 of Statute 18, the dissolution of the ASPF shall not prejudice or affect the rights of any relevant person to any payment out of the assets of the ASPF that had accrued immediately before the dissolution of the ASPF.ASPF moneys, ASPFAIS Investments Part V Assurances and mortgaged property of deceased relevant persons

The moneys which have been transferred to the account under paragraphs 34 and 35 and the ASPFAIS Investments and Part V Assurances referred to in paragraph 36, shall be paid or transferred to the trustees or legal personal representatives of the deceased relevant person.(2) The university company shall arrange for the discharge of the mortgaged property referred to in paragraph 37.ASPF moneys, ASPFAIS Investments Part V Assurances and mortgaged property of uncontactable relevant persons

where the relevant person is below 55 years of age transfer his ASPF moneys, ASPFAIS Investments or Part V Assurances to that CPF account; or

where the relevant person is 55 years of age or above, give the relevant person an option —

to have his ASPF moneys, ASPFAIS Investments or Part V Assurances transferred to the CPF account; or

to have his ASPF moneys, ASPFAIS Investments or Part V Assurances transferred to him subject to the condition that he sets aside such amount of ASPF moneys in his CPF account for the purposes of section 15(6) of the Central Provident Fund Act (Cap. 36).Evidence of transfer of property, assets, rights and interests