Clause 9

by deleting paragraph (a) of subsection (1) and substituting the following paragraph:“(a)a member to transfer such portion of the sum standing to his credit in the Fund as may be prescribed to the retirement account of a relevant individual, if the relevant individual has attained the age of 55 years;”;

by deleting subsection (2) and substituting the following subsections:“(2) The Board may, subject to such terms and conditions as it may impose, permit —

a member to transfer such portion (not exceeding such amount as the Minister may specify) of the sum standing to the member’s credit in the Fund as the Board may determine to the retirement account of a relevant individual, if any amount referred to in section 15(2A)(a), (7B)(a) or (8A)(a) is required to be set aside or topped-up in the retirement account of the relevant individual; or

any person to pay money (not exceeding such amount as the Minister may specify) into the retirement account of a member, if any amount referred to in section 15(2A)(a), (7B)(a) or (8A)(a) is required to be set aside or topped-up in the retirement account of the member.(2A) All moneys transferred to or paid into a retirement account under subsection (2)(a) or (b) shall be applied in accordance with such terms and conditions as the Minister may impose.”;

by deleting paragraph (a) of subsection (3) and substituting the following paragraph:“(a)a member to transfer such portion of the sum standing to his credit in the Fund as may be prescribed to the special account of a relevant individual, if the relevant individual has not attained the age of 55 years; or”; and

by deleting the words “parent, grandparent, spouse or sibling” in subsection (4) and substituting the words “relevant individual”.