Singapore legislation
Regulation 20
Regulation 20
Authorisation of withdrawals
Subregulation 1
Where a withdrawal from the CARE Account in the SAVER-Premium Fund has been authorised in favour of any person under regulation 19, the Board shall —
(a)
on the written instruction of that person, credit the amount authorised to be withdrawn to his bank account; or
(b)
open a savings account with a bank in the name of that person and credit the amount authorised to be withdrawn to the said bank account.
Subregulation 2
Payment may also be made by the Board in such other manner as the Board may determine in any particular case or class of cases.