Clause 22

by deleting paragraphs (iii) and (iv) of subsection (1) and substituting the following paragraphs:“(iii)notwithstanding section 21B(11), upon the transfer of the member’s interest in the HDB flat to his spouse and upon payment in accordance with paragraph (i), if applicable, any charge constituted on the HDB flat under section 21B(1) shall cease to secure the repayment of the money withdrawn from the Fund by the member, including the whole or such part, as the Board may determine, of the interest that would have been payable thereon if the withdrawal had not been made, and, if that is the only money secured by that charge, shall cease to be in force;

there shall be a charge constituted on the HDB flat to secure the payment referred to in paragraph (ii);”;

by deleting “(4)” in subsection (1)(v) and substituting “(5)”; and

by deleting subsection (2) and substituting the following subsection:“(2) Except in a case to which subsection (1) applies, where —

a member of the Fund has withdrawn any money standing to his credit in the Fund for all or any of the purposes referred to in section 21B(1);

the HDB flat in relation to which the money was withdrawn is owned by the member, whether solely or jointly with one or more other persons; and

an order of court is made requiring the transfer or sale of the member’s interest in the HDB flat to any person,the following shall apply:

any charge constituted on the HDB flat under section 21B(1) shall continue in force until all moneys secured by the charge —

have been repaid to the Fund; or

are no longer required by any regulations made under section 77(1) to be repaid to the Fund; and

notwithstanding paragraph (i), where the Board is satisfied of the occurrence of any event prescribed in any regulations made under section 77(1) for the purposes of this paragraph, the charge shall, on the application of the member, the person referred to in paragraph (c) or any other person having an interest in the HDB flat, cease to be in force if the Board approves the application.”.