Singapore legislation
Regulation 24
of Care Shield Life and Long-Term Care (CSHL Scheme) Regulations 2020
Regulation 24
Administration of refund by Board
Subregulation 1
The Board may pay the whole or any part, as the Board may determine, of any refunded premium, interest under section 23 or penalty under section 29 —
into the medisave account of the individual who paid the premium, interest or penalty, or in cash or any cash equivalent to that individual, as the Board considers fit; or
into the medisave account of the insured person or in cash or any cash equivalent to the insured person, as the Board considers fit.
Subregulation 2
Where the refunded premium, interest or penalty mentioned in paragraph (1) was paid by deduction from an individual’s medisave account, the Board may also pay into the individual’s medisave account, the whole or any part (as the Board may determine) of the interest that would have been payable on the amount of the refunded premium, interest or penalty if that amount had not been deducted from the relevant medisave account.
Subregulation 3
The Board may deduct, from any premium, interest under section 23 or penalty under section 29 to be refunded, any payment that the insured person is liable to make under the Act.
Subregulation 4
In this regulation, “cash equivalent”, in relation to any payment, includes the payment by a cheque, a credit or debit card or any electronic funds transfer.