Singapore legislation
Regulation 7A
Regulation 7A
Option for Part IV or Part IVA by member before 1 July 2025
Subregulation 1
This regulation applies where a member identified by the proper authority to be eligible to be given an option described in paragraph (2), has exercised the option —
in accordance with the conditions imposed by the proper authority; and
by a date before 1 July 2025 that is specified by the proper authority.
Subregulation 2
The option mentioned in paragraph (1) is for —
Part IVA to apply to the member instead of Part IV; or
Part IV to continue to apply to the member,with effect from 1 July 2025.
Subregulation 3
An option exercised in accordance with paragraph (1) —
takes effect on 1 July 2025, but only if the member is still a member on that date; and
is irrevocable.
Subregulation 4
If a member fails to exercise the option in accordance with paragraph (1), the member is deemed to have opted for Part IV to continue to apply to the member with effect from 1 July 2025, and paragraph (3) applies to the member as if he had exercised the option in accordance with paragraph (1).