Suggest a correction

Manner of payment from amount retained in retirement account

Central Provident Fund (Revised Retirement Sum Scheme) Regulations 1995

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) Paragraphs (2) and (3) apply to the payment of —(a)any monthly income or amount due to a member under regulation 8A(1) or (3), 9(2) or (3), 10(1) or (2) or 10B, any balance due to the member under regulation 10C(2) or any additional amount due to the member under regulation 10A(1) or (3); and(b)any amount due to the member under regulation 12A.(2) The Board may make the payments mentioned in paragraph (1) in any manner prescribed in the following sub‑paragraphs, as the Board thinks fit:(a)payment into the member’s bank account;(b)issuing a cheque or any other physical payment instrument to the member;(c)crediting the member’s ordinary account;(d)any other manner of payment applied for by the member.(3) If the Board makes payment in accordance with paragraph (2)(c), the Board may also credit to the member’s ordinary account the whole or part of the interest that would have been payable on the amount of the payment if the payment had been credited to the member’s ordinary account on becoming payable.

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