Singapore legislation
Regulation 7
of Education Endowment and Savings Schemes (Post-secondary Education Scheme) Regulations
Regulation 7
Refund of member’s moneys to PSE Fund
Subregulation 1
Where —
any sum standing to the credit of a member in his PSE account has been withdrawn and paid to any person operating any approved institution or special education school for any purpose under section 16D(2) of the Act; but(b)the whole or any part of that sum is not used for that purpose,the person operating the approved institution or special education school shall refund the unused whole or part of that sum to the PSE Fund to the credit of the member.
Subregulation 2
Every refund under paragraph (1) shall be made in such manner as may be required by the PSE Scheme Administrator.
Subregulation 3
In paragraph (1), “approved institution” means an institution approved by the Minister for the purposes of section 16D(2) of the Act.