Clause 15

Amendment of section 49B

of Central Provident Fund (Amendment) Bill

BillNot in forceProvision 15 of 21

Section 49B of the principal Act is amended by inserting, immediately after subsection (2), the following subsection:“(3) The Board may —

(a)

transfer to the Fund such part of the moneys of the dissolved Fund retained under subsection (1)(b) as it thinks fit; and (b)apply the transferred moneys towards meeting —

(i)

any of its own liabilities under the Scheme that may have arisen prior to the transfer under section 49A; and

(ii)

any costs and expenses incurred by it in maintaining the Scheme.”.

Read in full context — Central Provident Fund (Amendment) Bill →