Clause 6

by deleting subsection (2A) and substituting the following subsection:“(2A) Where a member of the Fund is entitled under subsection (2)(d), (e) or (f) to withdraw the sum standing to his credit in the Fund, at the time of the withdrawal and in accordance with such directions as the Minister may give in any particular case —

such amount as the Minister may specify shall be set aside or topped-up in the member’s retirement account —

by the member; or

from the sum standing to the member’s credit in the Fund; and

the prescribed amount referred to in section 16 shall be set aside or topped-up in the member’s medisave account —

by the member; or

from the sum standing to the member’s credit in the Fund.”;

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 the deceased 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 the deceased member in the Fund, such portion of the amount payable on the deceased member’s death out of the Fund as the person has been nominated to receive under the memorandum.”;

by deleting subsection (6) and substituting the following subsection:“(6) Subject to subsections (6A), (8) and (8A), where a member of the Fund is entitled under subsection (2)(a), (3) or (4) to withdraw the sum standing to his credit in the Fund, at the time of the withdrawal and in accordance with any regulations made under this Act —

a prescribed sum (referred to in this Act as the minimum sum) shall be set aside or topped-up —

by the member; or

from the sum standing to the member’s credit in the Fund; and

unless the Board otherwise allows, such amount as may be specified under subsection (6D) shall be set aside or topped-up in the member’s medisave account —

by the member; or

from the sum standing to the member’s credit in the Fund after deducting any sum standing to the member’s credit in his retirement account.”;

by deleting the words “set aside or topped-up by a member” in subsection (6C);

by deleting subsection (6D) and substituting the following subsection:“(6D) The Minister may, by order published in the Gazette —

specify such amount as he thinks fit for the purposes of subsection (6)(b); and

specify different amounts in respect of different classes of members.”;

by deleting subsection (7B) and substituting the following subsection:“(7B) Where a member of the Fund is entitled under subsection (7A)(a), (b) or (c) to withdraw the amount referred to in subsection (6C)(b) or any part thereof from his account with an approved bank or his retirement account or surrender his approved annuity from an insurer, at the time of the withdrawal or surrender, as the case may be, and in accordance with such directions as the Minister may give in any particular case —

such amount as the Minister may specify shall be set aside or topped-up in the member’s retirement account —

by the member; or

from the sum standing to the member’s credit in the Fund; and

the prescribed amount referred to in section 16 shall be set aside or topped-up in the member’s medisave account —

by the member; or

from the sum standing to the member’s credit in the Fund.”;

by deleting subsection (8A) and substituting the following subsection:“(8A) Where a member of the Fund is entitled under subsection (2)(a), (3) or (4) to withdraw the sum standing to his credit in the Fund and, under subsection (8)(a), (b) or (c), need not comply with subsection (6)(a), at the time of the withdrawal and in accordance with such directions as the Minister may give in any particular case —

such amount as the Minister may specify shall be set aside or topped-up in the member’s retirement account —

by the member; or

from the sum standing to the member’s credit in the Fund; and

the prescribed amount referred to in section 16 shall be set aside or topped-up in the member’s medisave account —

by the member; or

from the sum standing to the member’s credit in the Fund.”;

by deleting the words “minimum sum or part thereof which he is required to set aside for the purposes of subsection (6C)” in subsection (10) and substituting the words “member’s minimum sum or part thereof which is required to be set aside for any of the purposes mentioned in subsection (6C)”;

by deleting the words “minimum sum or part thereof which the member is required to set aside” in subsection (10A) and substituting the words “member’s minimum sum or part thereof which is required to be set aside”; and

by deleting the words “minimum sum set aside by the member under subsection (6)” in subsection (15)(e)(iv) and substituting the words “member’s minimum sum”.