Singapore legislation
Clause 27
Clause 27
Amendment of section 32
Section 32 of the principal Act is amended —
by deleting subsection (4) and substituting the following subsection:“(4) Where the amount of the premium which a Scheme member is liable to pay under the Scheme exceeds the amount standing to the Scheme member’s credit in the Fund, the deficiency may be paid in either or both of the following manner:
the Board may deduct the deficiency (in whole or in part) from any payment from the insured sum which the Board may make under the Scheme under section 36(1), (2) or (6);
the deficiency may be paid in such other manner and within such time as the Board may determine.”;
by deleting the words “permit a joint-owner who is a spouse of the first-mentioned joint-owner” in subsection (5) and substituting the words “(on such terms and conditions as the Board may impose) permit such other joint-owner of the immovable property”; and
by inserting, immediately after subsection (5), the following subsection:“(6) The other joint-owner referred to in subsection (5) —
need not be insured under the Scheme; and
must satisfy such other criteria as the Board may determine.”.