Clause 2

by deleting the definition of “minimum sum” in subsection (1);

by inserting, immediately after the definition of “retirement account” in subsection (1), the following definition:“ “retirement sum”, in relation to a member, means any of the following as may be applicable:

the retirement sum mentioned in section 15(6)(a) that is applicable to the member;

the minimum sum mentioned in section 15(6)(a), as in force immediately before the date of commencement of section 5(g) of the Central Provident Fund (Amendment No. 2) Act 2016, that is applicable to the member;”;

by deleting subsection (1A) and substituting the following subsection:“(1A) For the purposes of this Act, unless the context otherwise requires or any regulations made under section 77(1)(a) provide otherwise —

an individual attains a particular age expressed in years on the corresponding anniversary of the date of that individual’s birth; and

despite paragraph (a), where an individual was born on 29 February in any year, then, in any subsequent year that is not a leap year, the anniversary of that individual’s birth is deemed to occur on 1 March of that subsequent year.”;

by inserting, immediately after the words “section 27B” in subsection (6)(c), the words “or to the general moneys of the Fund under section 14(3C)”; and

by deleting the words “section 27N(4) or 57C(5) or (6)” in subsection (6)(d) and substituting the words “section 14(3) or (3A), 27N(4) or 57C(5) or (6)”.