Clause 42

by deleting subsection (2) and substituting the following subsections:“(1A) If a claim for a refund or payment of the whole or any part of the money paid in error in any of the circumstances specified in subsection (2) is not received by the Board within one year beginning on the date on which the money was paid in error, the amount claimed —

is not to be refunded or paid to the claimant but is deemed to have been properly paid under the provisions of this Act in respect of that person or as interest, as the case may be; and

cannot be set off under subsection (3) against any sum due to the Fund.(2) For the purposes of subsection (1A), the circumstances in which moneys are paid in error are as follows:

contributions made by an employer under section 7(1) or (4)(c);

contributions made by an employee under section 7(4)(b);

contributions made by a self-employed person under any regulations made under section 77(1)(e);

interest payable under section 9;

moneys paid in error to the Fund or as interest under section 9 before the date of commencement of section 42 of the Central Provident Fund (Amendment) Act 2016.”; and

by deleting the word “If” in subsection (3) and substituting the words “Subject to subsection (1A)(b), if”.