Regulation 3

the member is not an authorised member and has not attained 55 years of age; and

the aggregate amount is less than the prevailing retirement sum.

to the member’s special account, an amount equal to the lower of the following:

the excess amount in the member’s medisave account;

the difference between the aggregate amount and the prevailing retirement sum; and

to the member’s ordinary account, the excess amount (if any) in the member’s medisave account remaining after the transfer in accordance with sub‑paragraph (a).

the amount standing to the credit of the member in the member’s special account immediately before the transfer in accordance with paragraph (2)(a) (if any); and

subject to paragraph (4), in respect of each investment purchased with any amount withdrawn from the member’s special account under Part 3 or regulation 39 of the Central Provident Fund (Investment Schemes) Regulations 2000 (called in this regulation the Investment Schemes Regulations) that has not been completely disposed of, the amount (if any) by which the amount mentioned in sub‑paragraph (i) exceeds the amount mentioned in sub‑paragraph (ii):

the amount withdrawn from the member’s special account under Part 3 or regulation 39 of the Investment Schemes Regulations to purchase the investment;

the amount of proceeds from the sale of that investment and benefits of that investment (if any) that are repaid to the member’s special account at any time before the transfer.

the Board approves the member’s application under regulation 40(1) of the Investment Schemes Regulations to withdraw all securities which the member purchased or acquired under Part 3 of those Regulations; or

the member has died and the Board has been notified of the member’s death in accordance with regulation 43A of the Investment Schemes Regulations.