Clause 10

after subsection (4A), insert —“(4B) Subsection (4C) applies where —

a member’s child or relative has given an undertaking under subsection (3) for the repayment of an amount to the member’s account in the Fund or payment of an amount to the Fund; and

the Board is satisfied that the member is an applicable person and that the member’s child or relative is not an applicable person.(4C) Subject to subsection (4D), if —

the member’s child or relative (as the case may be) withdraws the sum standing to his or her credit in the Fund under section 15(2)(b); or

any moneys are to be transferred from an account in the Fund of the member’s child or relative (as the case may be) to the general moneys of the Fund under section 13(7B),the Board may recover from the sum to be withdrawn or transferred (as the case may be) the whole or part of the amount repayable or payable pursuant to the undertaking given by the child or relative.(4D) An undertaking given, or a guarantee furnished, under subsection (3) for the repayment of an amount to the member’s account in the Fund or payment of an amount to the Fund is deemed to lapse when the Board is satisfied that the member has ceased to be an applicable person.”; and

in subsection (5), after “this Act”, insert “but subject to subsection (4D)”.