Regulation 14A

a member sells, transfers, assigns or otherwise disposes of an immovable property (or any of the member’s estate or interest in the immovable property) to any person in respect of which there subsists —

a charge created or constituted under section 15AB(1), (2), (10), (11) or (13) of the Act or a former provision, or any section 21C(1) charge A; or

an undertaking given under section 15AB(3) or (4) of the Act or a former provision, or any section 21C(2) undertaking A or section 21D(1) undertaking A; and

upon the sale, transfer, assignment or disposal, the amount secured by the charge or undertaking (or such part of the amount as the Board may determine) is paid to the Board,the Board must pay that amount into the member’s ordinary account.

a member sells, transfers, assigns or otherwise disposes of an immovable property (or any of the member’s estate or interest in the immovable property) to any person in respect of which there subsists —

a charge created or constituted under section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i) or 27DB(2)(e) of the Act, or any section 21C(1) charge C; or

an undertaking given under section 27D(1)(j)(i) of the Act, or any section 21C(2) undertaking B or section 21D(1) undertaking B; and

upon the sale, transfer, assignment or disposal, the amount secured by the charge or undertaking (or such part of the amount as the Board may determine) is paid to the Fund,the Board must pay that amount into the member’s special account.

the Board is notified of the member’s death;

the member is entitled to withdraw the amount standing to the member’s credit in the Fund under section 15(2)(b) of the Act or a former provision, or section 15AA(1) of the Act because the member is suffering from a terminal illness or disease or a former provision, and the Board has given its authority under section 15(1) of the Act for such withdrawal;

the member complies with section 15(6)(a) or 15AA(5)(a) of the Act or a former provision;

the member is exempt from complying with section 15(6)(a) of the Act by reason of section 15AA(3)(b) of the Act or a former provision;

there is a relevant transaction in respect of the immovable property and an undertaking is deemed under section 21C(2) of the Act as a result;

the member —

has applied, in such manner as the Board may require, for the undertaking not to be enforced;

at the time the Board considers the member’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside; (iii)at the time the Board considers the member’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose.

the death of the member;

the member is entitled to withdraw the amount standing to the member’s credit in the Fund under section 15(2)(b) of the Act or a former provision, or section 15AA(1) of the Act because the member is suffering from a terminal illness or disease or a former provision, and the Board has given its authority under section 15(1) of the Act for such withdrawal;

the member complies with section 15(6)(a) or 15AA(5)(a) of the Act or a former provision;

the member is exempt from complying with section 15(6)(a) of the Act by reason of section 15AA(3)(b) of the Act or a former provision;

where the charge mentioned in section 15(11F) of the Act as in force before 1 March 2022 is constituted on or after 1 January 2016, but before 1 January 2017, to secure the payment of an amount to the Board, at the time when that charge is constituted —

the member has a relevant property charge; and

the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside;

where the charge mentioned in section 15AB(14) of the Act or a former provision is constituted before, on or after 1 January 2016 to secure the payment of an amount to the Board and sub‑paragraph (e) does not apply, the member —

has applied, in such manner as the Board may require, for that charge to be cancelled;

at the time the Board considers the member’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside; (iii)at the time the Board considers the member’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose;

where the charge mentioned in section 15AB(15) of the Act is created before 1 January 2013 to secure the payment of an amount to the Board, the member —

has applied, in such manner as the Board may require, for that charge to be cancelled;

at the time the Board considers the member’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the member:

the amount secured by the relevant property charge;

the amount of the retirement sum the member has set aside; (iii)at the time the Board considers the member’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose;

there is a relevant transaction in respect of the immovable property and a continued charge is constituted under section 21C(1)(d) of the Act as a result.

any reference to the member is to be read as a reference to the spouse;

sub‑paragraphs (e), (f) and (g) of paragraph (5) are replaced by the following sub‑paragraph:“(e)where the charge under section 27C(1)(i), 27D(1)(j)(ii), 27DA(1)(i) or 27DB(2)(e) of the Act is constituted before, on or after 1 January 2016, or there subsists any section 21C(1) charge C, to secure the payment of an amount to the Board, the spouse —

has applied, in such manner as the Board may require, for that charge to be cancelled;

at the time the Board considers the spouse’s application, has a relevant property charge and the total of the following amounts is equal to or more than the retirement sum applicable to the spouse:

the amount secured by the relevant property charge;

the amount of the retirement sum the spouse has set aside;

at the time the Board considers the spouse’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the Second Schedule applicable to the spouse; and

satisfies such terms and conditions as the Board may impose.”.

the Board is notified of the spouse’s death;

the spouse is entitled to withdraw the amount standing to the credit of the spouse in the Fund under section 15(2)(b) of the Act or a former provision, or section 15AA(1) of the Act because the spouse is suffering from a terminal illness or disease or a former provision, and the Board has given its authority under section 15(1) of the Act for such withdrawal;

the spouse complies with section 15(6)(a) or 15AA(5)(a) of the Act or a former provision;

the spouse is exempt from complying with section 15(6)(a) of the Act by reason of section 15AA(3)(b) of the Act or a former provision;

there is a relevant transaction in respect of the immovable property and an undertaking is deemed under section 21C(2) of the Act as a result;

where the undertaking under section 27D(1)(j)(i) of the Act is given, before, on or after 1 January 2016 or there subsists any section 21C(2) undertaking B or section 21D(1) undertaking B, the spouse —

has applied, in such manner as the Board may require, for the undertaking not to be enforced;

at the time the Board considers the spouse’s application, has a relevant property charge and the total of the following amounts is not less than the retirement sum applicable to the spouse:

the amount secured by the relevant property charge;

the amount of the retirement sum the spouse has set aside; (iii)at the time the Board considers the spouse’s application, has set aside towards the maintenance of the retirement sum, an amount equal to or more than the minimum combined cash and benefit component specified in the third column of the Second Schedule applicable to the member; and

satisfies such terms and conditions as the Board may impose.

at least (95 – T2) years, where T2 is the member’s age at the time mentioned in paragraph (4)(f)(ii), (5)(f)(ii) or (g)(ii) or (7)(f)(ii), or in paragraph (5)(e) as replaced by paragraph (6)(b), as the case may be; or

such shorter period as the Board may permit.