Singapore legislation
Clause 6
Clause 6
Amendment of section 13B
Section 13B of the principal Act is amended —
by deleting the word “The” in subsection (3) and substituting the words “Subject to subsection (3A), the”; and
by inserting, immediately after subsection (3), the following subsection:“(3A) Where any contribution or interest thereon is or may become due to the Board from any person, and the aggregate of the amounts referred to in subsection (3)(a), (b) and (c) which are contributed by or for that person in any year exceeds the sum referred to in subsection (3), the Board may, in accordance with any regulations made under section 77(1) —
retain the whole or any part of the excess contributions; and
set off the retained excess contributions against the contribution or interest that is or may become due to the Board from that person.”.