Clause 9

Section 24 of the principal Act is amended by deleting subsections (2) and (3) and substituting the following subsections:“(2) Notwithstanding any written or other law but subject to sections 27G and 27H and any regulations made under section 77(1), every investment made by a member of the Fund under any scheme in accordance with any regulations made under section 77(1)(n) the proceeds or benefits (or any part thereof) of which the member is obliged to repay into the Fund, and any proceeds or benefits of such an investment which the member is obliged to repay into the Fund, shall not be assignable, transferable, attached, sequestered or levied upon for or in respect of any debt or claim, or be subject to any set-off of any nature for any debt owing by the member.(3) Notwithstanding anything in the Bankruptcy Act (Cap. 20), if a member of the Fund is adjudicated a bankrupt by a court, every investment made by the member under any scheme in accordance with any regulations made under section 77(1)(n) the proceeds or benefits (or any part thereof) of which the member is obliged to repay into the Fund, and any proceeds or benefits of such an investment which the member is obliged to repay into the Fund —