Clause 18

Section 16F of the principal Act is amended by inserting, immediately after subsection (2), the following subsection:“(2A) Upon an application under section 16E(6) to transfer moneys from the PSE account of an individual who is a PSE Fund member to his Edusave account, the PSE Scheme Administrator may authorise the transfer to the Edusave account of an amount not exceeding the amount earlier transferred to his PSE account under section 13(1) with respect to that individual.”.