Clause 6

by deleting the words “subsection (1B)” in subsection (1A) and substituting the words “subsections (1B) and (1C)”;

by deleting the words “the premium referred to in section 27L(1)” in subsections (1B), (6C)(a) and (15)(e)(iv) and substituting in each case the words “a premium referred to in section 27L(1) or (1A)”;

by inserting, immediately after the words “subsection (6C)(a)” in subsection (1B), the words “or (b)(i)”;

by inserting, immediately after subsection (1B), the following subsection:“(1C) After the death of a member of the Fund, the authority under subsection (1) may be given for a withdrawal from the Fund under subsection (5) by a person nominated by that member in accordance with section 25(1), without any application being made by that person under subsection (1A).”;

by deleting paragraph (e) of subsection (2) and substituting the following paragraph:“(e)lacks capacity within the meaning of section 4 of the Mental Capacity Act (Cap. 177A);”;

by deleting subsection (5) and substituting the following subsection:“(5) Subject to section 25(3), after the death of a member of the Fund, a person who is nominated by that member, by a memorandum executed in accordance with section 25(1), shall be entitled to withdraw, in the manner provided for in the memorandum, from the balance standing to the credit of that member in the Fund, such portion, as the person has been nominated to receive under the memorandum, of that balance after deducting the following amounts:

any sum withdrawn, or to be withdrawn, under section 16A;

any sum credited, or to be credited, to the account of another person under section 19(2) or 19A(2); and

any sum transferred or paid, or to be transferred or paid, to another person under section 27B.”;

by deleting paragraph (a) of subsection (6B) and substituting the following paragraph:“(a)shall not be revocable during the subsistence of the marriage, unless the Board is satisfied that —

either member is, or both members are, physically or mentally incapacitated —

from ever continuing in any employment; or

in such other manner as the Minister may approve;

either member lacks, or both members lack, capacity within the meaning of section 4 of the Mental Capacity Act (Cap. 177A);

either member is, or both members are, suffering from a medical condition leading to a severely impaired life expectancy; or

either member is, or both members are, suffering from a terminal illness or disease; and”;

by deleting the word “or” at the end of subsection (6C)(b)(i);

by deleting the full-stop at the end of sub-paragraph (ii) of subsection (6C)(b) and substituting the word “; or”, and by inserting immediately thereafter the following sub-paragraph:“(iii)used for the payment of a premium referred to in section 27L(1) or (1A).”;

by deleting subsection (7A) and substituting the following subsection:“(7A) A member who has attained the age of 55 years but has not attained the prescribed age shall be entitled to withdraw the amount referred to in subsection (6C)(b), or such part thereof as the Board may determine, from his account with an approved bank or his retirement account, or to surrender his approved annuity from an insurer, if the Board is satisfied that the member —

is physically or mentally incapacitated —

from ever continuing in any employment; or

in such other manner as the Minister may approve;

lacks capacity within the meaning of section 4 of the Mental Capacity Act (Cap. 177A);

is suffering from a medical condition leading to a severely impaired life expectancy;

is suffering from a terminal illness or disease; or

is receiving any pension, annuity or other benefit as may be approved which will provide him with a monthly income of an amount that is not less in value than the amount prescribed by the Minister.”;

by deleting “(ba)” in subsection (7B) and substituting “(c)”;

by deleting paragraph (b) of subsection (8) and substituting the following paragraph:“(b)lacks capacity within the meaning of section 4 of the Mental Capacity Act (Cap. 177A);”; and

by deleting the words “or is declared insolvent” in subsection (14).