11. Section 19 of the principal Act is repealed and the following section substituted therefor:
“Provisions relating to moneys transferred or paid to parent’s, grandparent’s, spouse’s or sibling’s retirement account on death
19.
—(1) Any moneys —
(a)
transferred by a member to his parent’s, grandparent’s, spouse’s or sibling’s retirement account under section 18(1)(a) or (2)(a); or
(b)
paid by any person into his parent’s, grandparent’s, spouse’s or sibling’s retirement account under section 18(1)(b) or (2)(b),
shall be deemed to be contributions for the purposes of this Act, and shall not form part of the moneys payable out of the Fund on the death of the parent, grandparent, spouse or sibling, as the case may be.
(2) Subject to subsections (3) and (4), on the death of the parent, grandparent, spouse or sibling, the moneys transferred or paid under section 18(1) or (2), or the balance thereof, shall be credited to the account from which it was transferred or to the account of the person who made the payment, as the case may be.
(3) Where any moneys transferred or paid by a member to the retirement account of his parent, grandparent, spouse or sibling under section 18(1) or (2) are transferred or paid to any person under section 27B —
(a)
subsection (2) shall not apply to those moneys; and
(b)
the person to whom those moneys have been transferred or paid under section 27B shall be entitled to retain those moneys on the death of the parent, grandparent, spouse or sibling, as the case may be.
(4) Where the Board has received notice, in accordance with any regulations made under section 77(1), that any moneys transferred or paid by a member to the retirement account of his parent, grandparent, spouse or sibling under section 18(1) or (2) are to be transferred or paid to any person under section 27B, and the Board has not, at the time of receipt of the notice, credited those moneys to the account of the member under subsection (2) —
(a)
subsection (2) shall not apply to those moneys; and
(b)
the person to whom those moneys are to be transferred or paid under section 27B shall be entitled to those moneys.”.