Singapore legislation

Clause 17

of Education Endowment and Savings Schemes (Amendment) Bill

Clause 17

Amendment of section 16E

Section 16E of the principal Act is amended —

(a)

by inserting, immediately after the words “and thereupon” in subsections (1), (2) and (4), the words “his PSE account shall be closed and”; and

(b)

by inserting, immediately after subsection (5), the following subsection:“(6) An individual who is a member of the PSE Fund and who resumes being a member of the Edusave Pupils Fund by virtue of section 8(3), or, if the individual is below 21 years of age, any parent of the individual, may apply to the PSE Scheme Administrator to transfer moneys standing to the credit of the individual in his PSE account to his Edusave account.”.

Read in full context — Education Endowment and Savings Schemes (Amendment) Bill →