Regulation 3

A member who is an applicable person may apply to the Board to withdraw such portion of the amount standing to the member’s credit in the Fund as may be approved by the Board for the payment of tuition fees for any course of study pursued by the member, the member’s child or the member’s relative at an approved educational institution.

The Board may approve an application under paragraph (1) subject to such terms and conditions as it may impose.

Where an application is made by a member to make withdrawals under these Regulations for the payment of tuition fees for any course of study pursued by the member, the member’s child or the member’s relative at an approved educational institution, the Board must not approve the application unless the member, or the member’s child or relative concerned, gives an undertaking or furnishes a guarantee, or both, to the Board in accordance with section 22(3) of the Act.

The amount which may be withdrawn by a member under paragraph (1) must not exceed the amount of the tuition fees payable by the member, the member’s child or the member’s relative (as the case may be) for a course of study at an approved educational institution.