Clause 44

This section applies where the Board is satisfied that the amount of contributions paid for any year by a member who is a self-employed person, under any regulations made under section 77(1)(e), exceeds the amount of contributions payable by the member after recomputation in accordance with those regulations.(2) Subject to subsections (3), (4) and (5), if any excess contributions referred to in subsection (1) are credited to any account in the Fund of a member who is a self-employed person and the member is alive, the Board may —

treat the excess contributions as payment towards any future contributions which the member is liable to pay; or

subject to such terms and conditions as the Board may impose, refund the excess contributions to the member if —

the member applies in writing for the refund within such time as may be prescribed; and

the refund is made in accordance with any regulations made under section 77(1).(3) The Board may refund the excess contributions to a member, of an amount not exceeding the amount standing to the member’s credit in the account (in which the excess contributions were credited) at the time the Board approves the refund.(4) Where a member has not applied for a refund under subsection (2) within the prescribed time, the Board may retain the whole or any part of the excess contributions to be used to set off against any contributions or interest on any contributions as is due or may become due to the Board.(5) The Board may require any person who claims to be entitled to any refund under this section, or to have paid any excess contributions to the Fund, to provide the Board with such information as the Board considers necessary to determine whether any refund should be made.Refund of excess voluntary contributions where member is alive75D.—

This section applies where the total amounts referred to in section 13B(3)(a), (b) and (c) which are contributed by or for a member in any year exceeds the sum prescribed under section 13B(3) for that year.(2) Subject to subsections (4), (5) and (6), where any excess contributions referred to in subsection (1) are credited to any account in the Fund of a member and the member is alive, the Board may, subject to such terms and conditions as it may impose, refund to the member or to any other person such amount of the excess contributions as may be prescribed by regulations made under section 77(1).(3) Where the member is an employee at any time during that year, and the Board is satisfied that the amount of additional medisave contributions which was paid in that year by his employer for the employee exceeds such sum as the Minister may prescribe by regulations made under section 77(1), the Board may, subject to such terms and conditions as the Board may impose, refund the excess to the employer.(4) The Board may refund the excess contributions to the member, any other person referred to in subsection (2) or the employer referred to in subsection (3) (as the case may be) of an amount not exceeding the amount standing to the member’s credit in the account (in which the excess contributions were credited) at the time the Board approves the refund.(5) The Board may require any person to whom any excess contributions are to be refunded under this section to —

submit an application to the Board for the refund of the excess contributions; and

provide the Board with such information as the Board considers necessary to determine whether any refund should be made.(6) The Board may retain the whole or any part of the excess contributions to be used to set off against any contributions or interest on any contributions which is due or may become due to the Board.(7) In this section, “additional medisave contributions” means the contributions paid by an employer under section 7(4)(c) specifically for the purposes of the medisave account of the employer’s employee.”.