Regulation 10

Subject to regulation 7, where a member has, whether before or after 1 June 1981 obtained a housing loan the repayment of which is secured by a mortgage on that property or another residential property of which the member is the owner or a joint‑owner and is required to pay instalments of principal and interest towards the loan either monthly or at other intervals, the Board may, on application being made by the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to the member’s credit in the Fund to be withdrawn by the member and used for the payment of those instalments.