Clause 10

by deleting subsection (1) and substituting the following subsections:“(1) Subject to such conditions as may be prescribed by the Board, any member of the Fund may, by a memorandum executed in such manner as may be prescribed by the Board, nominate any person to receive in his own right —

such portion of the amount payable on the member’s death out of the Fund under section 20(1)(b) or (1A) —

by the payment of that portion to that person; or

if that person is a citizen or permanent resident of Singapore at the time the Board is satisfied that the memorandum is duly executed —

subject to sub-paragraph (B), by the transfer of that portion to that person’s accounts in the Fund in such manner as the member may specify in the memorandum; or

if that portion exceeds such maximum amount as the Minister may determine, by the transfer of that maximum amount to that person’s accounts in the Fund in such manner as the member may specify in the memorandum, and by the payment of the excess to that person; or

such portion of any shares designated under section 26(1) as the memorandum shall indicate.(1A) For the avoidance of doubt, a member of the Fund may nominate one or more persons by a memorandum under subsection (1).(1B) For the purposes of subsection (1)(a)(ii)(B), the Minister may determine different maximum amounts for different classes of persons nominated under subsection (1).”;

by deleting the word “Where” in subsection (2) and substituting the words “Subject to subsection (2A), where”;

by inserting, immediately after subsection (2), the following subsection:“(2A) Notwithstanding subsection (2) and section 24(3A), where any person has incurred any reasonable funeral expenses in respect of a deceased member of the Fund, and that person has been determined by the Public Trustee in accordance with subsection (2) to be entitled to any moneys paid out of the Fund on the death of the member, the Public Trustee —

may pay to that person, from the moneys paid to the Public Trustee under subsection (2), such amount as the Public Trustee determines to be reasonable to defray those expenses; and

shall pay the remainder of the moneys paid to the Public Trustee under subsection (2) in accordance with —

the Intestate Succession Act (Cap. 146), if the member is not a Muslim at the time of his death; or

section 112 of the Administration of Muslim Law Act (Cap. 3), if the member is a Muslim at the time of his death.”;

by deleting subsections (3) and (4) and substituting the following subsections:“(3) Notwithstanding sections 15(5) and 20(1) and (1A), if any person nominated under subsection (1) (not being a widow of the deceased member) is below the age of 18 years at the time of payment of the amount payable out of the Fund, any portion of that amount which the nominated person would have received by payment to the nominated person shall similarly be paid to the Public Trustee for the benefit of the nominated person.(4) The receipt of a person nominated under subsection (1) or of the Public Trustee shall be a discharge to the Board for the portion of the amount payable out of the Fund on the death of a member which is paid to the person or transferred to the person’s accounts in the Fund or which is paid to the Public Trustee under subsection (2) or (3), as the case may be.”;

by deleting the words “the nominated person’s portion of the amount payable” wherever they appear in subsection (4A) and substituting in each case the words “the portion of that amount which the nominated person would have received by payment to the nominated person”;

by inserting, immediately after the word “pay” in subsection (6), the words “or transfer”; and

by inserting, immediately after the word “payment” in subsection (6)(a) and (b), the words “or transfer”.