Clause 12

by inserting, immediately after the words “parent of a member” in subsection (1), the words “of the Edusave Pupils Fund”;

by inserting, immediately after the words “or a member” in subsection (1), the words “of that Fund”; and

by deleting subsections (2) and (3) and substituting the following subsections:“(2) Subject to subsection (3) and any regulations made under section 24, where a member of the Edusave Pupils Fund has attained the age of 16 years or has ceased to be a full-time pupil at any school, whichever is the later, the Board shall, as soon as practicable, transfer the sum standing to his credit in his Edusave account to his PSE account, and thereupon he shall cease to be a member of that Fund.(3) Subject to any regulations made under section 24, where a member of the Edusave Pupils Fund below the age of 16 years satisfies such requirements as may be prescribed, the Board may, upon application by the parent of the member, transfer the sum standing to the credit of the member in his Edusave account to his PSE account, and thereupon he shall cease to be a member of that Fund.”.