Clause 4

by deleting subsection (1A) and substituting the following subsection:“(1A) The Board may give its authority under subsection (1) for the withdrawal of money standing to a member’s credit in the Fund —

on the application of a person who —

is entitled or allowed to withdraw the money; or

will be entitled to withdraw the money within such period as the Board may determine; or

without any application by a person mentioned in paragraph (a) —

for payment to such a person of the whole or part of any amount that the person would have been entitled or allowed to withdraw on application under this Act; or

for the purposes of subsection (7A)(a).”;

by deleting the words “this section and” in subsection (2);

by inserting the word “or” at the end of subsection (2)(b);

by deleting the semi‑colon at the end of subsection (2)(c) and substituting a full‑stop;

by deleting paragraphs (d), (e), (f) and (g) of subsection (2);

by deleting subsections (2A) and (2B);

by deleting subsection (3) and substituting the following subsection:“(3) Subject to subsection (6) and section 16, a member of the Fund who has withdrawn any money from the Fund on the ground that he or she has attained 55 years of age is entitled to make a further withdrawal of the sum standing to his or her credit in the Fund on or after each subsequent anniversary of his or her date of birth or such other period as the Minister may direct.”;

by deleting the words “subsection (9), (9A), (11D), (11E) or (11EB) or section” in subsection (4)(b) and substituting the words “section 15AB(1), (2), (10), (11) or (13),”;

by deleting the words “subsection (10) or (10A) or section” in subsection (4)(b) and substituting the words “section 15AB(3) or (4) or”;

by deleting the words “subsections (6A), (8) and (8A)” in subsection (6) and substituting the words “subsection (6A) and section 15AA(3) and (5)”;

by inserting, immediately after the words “relevant member” in subsection (6A), the words “as defined in section 27J”;

by deleting the words “2 times the retirement sum” in subsection (6A) and substituting the words “the aggregate of the retirement sums of both members”;

by deleting paragraph (a) of subsection (6B) and substituting the following paragraph:“(a)is not revocable during the subsistence of the marriage, unless the Board is satisfied that either member is, or both members are, suffering from any significant condition; and”;

by deleting subsections (7A), (7B), (7C), (8), (8A), (8B), (8C) and (8CA) and substituting the following subsections:“(7A) Subject to subsection (7B) or (7C) and regulations made under section 77(1), the Board may, without any application by a member —

pay the determined amount to the member from any moneys standing to the member’s credit in the Fund; or

transfer the determined amount from the moneys standing to the member’s credit in the Fund to the member’s retirement account for payment to the member under paragraph (a).(7B) Where the member is entitled to make a withdrawal under subsection (2)(a) —

subsection (7A) applies on or after the entitlement date; and

the determined amount is an amount determined by the Board.(7C) Where the member is entitled to make a withdrawal under section 15AA(1) by reason of a specified significant condition —

subsection (7A) applies on or after the Board is satisfied that the member is suffering from a specified significant condition as defined in section 15AA(9); and

the determined amount is an amount determined by the Minister.(7D) Subsection (6)(a) and section 15AA(5) do not apply to a payment under subsection (7A)(a).(7E) Except for the determined amount referred to in subsection (7B)(b) or (7C)(b) and subject to regulations made under section 77(1), other limits imposed on the amount of moneys that may be transferred to or maintained in the member’s retirement account do not apply to any transfer to a member’s retirement account under subsection (7A)(b).”;

by deleting the words “(2A), (6), (6C), (7), (7B) and (8A)” in subsection (8D) and substituting the words “(6), (6C) and (7), 15AA(1) and (5)”; (p)by deleting subsections (9), (9A), (10), (10A), (10B), (11), (11A), (11B), (11C), (11D), (11E), (11EA), (11EB), (11F), (15), (15A) and (16); and

by deleting the section heading and substituting the following section heading:“General provisions on withdrawal from Fund”.