Singapore legislation
Clause 7
Clause 7
Repeal and re-enactment of section 16
Section 16 of the principal Act is repealed and the following section substituted therefor:“Restrictions on withdrawal from medisave account16.—
(1)
A member of the Fund is not entitled to withdraw any sum standing to the credit of the member in the member’s medisave account under section 15(2)(a) or (3).(2) A member of the Fund is not entitled to withdraw any sum standing to the credit of the member in the member’s medisave account under section 15(2)(d), (e), (f) or (g), except with the approval of the Minister.(3) The Board must not allow a member of the Fund to withdraw any sum standing to the credit of the member in the member’s medisave account under section 15(4).”.