Suggest a correction

Treatment of moneys not successfully paid out of Fund

Central Provident Fund (Workfare Income Supplement Scheme) Regulations 2007

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

Proposed text

—(1) Subject to paragraph (3), where —(a)any amount has been permitted to be withdrawn by a member under section 57DA(1) of the Act; and(b)the amount has not been successfully paid to that member, or the instrument in respect of such payment has been returned to the Board or has expired,the Board is to restore the amount, or the value of the instrument, to the member’s account in the Fund as soon as practicable after the Board is notified of the unsuccessful payment of the amount or the instrument is returned to the Board or expires, as the case may be.(2) Where an amount or the value of an instrument is restored to the member’s account in the Fund under paragraph (1), the Board may credit to the member’s account in the Fund (in such manner as the Board considers fit) the whole or such part, as the Board may determine, of the interest that would have been payable on the amount or value restored if that amount or value restored had not been debited from that account.(3) The Board may, before restoring the amount or value of the instrument under paragraph (1), make further reasonable attempts to pay the amount mentioned in paragraph (1)(a).

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