On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 01/07/2010.
PART III
GENERAL PROVISIONS
15.
—(1) Where a member, who has deposited the amount referred to in section 15(6C)(b) of the Act in an account with an approved bank, closes the account and does not open another account with another approved bank or does not purchase an approved annuity from an insurer, the approved bank in which the account was opened shall immediately transfer all the moneys in that account to the member’s retirement account.
(2) Where a member surrenders his approved annuity and does not purchase another approved annuity or does not open an account with an approved bank, the insurer from whom the approved annuity was purchased shall immediately transfer all the moneys representing the surrender value of the approved annuity to the member’s retirement account.
(3) Where a member who has been exempted under section 15(8)(e) of the Act from setting aside the minimum sum surrenders the pension, annuity or other benefit and does not purchase an approved annuity or does not open an account with an approved bank, the member shall transfer all the moneys representing the surrender value of the pension, annuity or other benefit or, where the surrender value of the pension, annuity or other benefit is more than the minimum sum applicable to him, an amount equal to the value of the minimum sum to his retirement account.
16. Where a member has deposited the amount referred to in section 15(6C)(b) of the Act with an approved bank or has purchased an approved annuity with an insurer, upon the death of the member, that amount or any balance thereof or the amount representing the residual value of his approved annuity purchased with the minimum sum shall be transferred to his account in the Fund to be dealt with in accordance with law.
17. For the purposes of these Regulations, where the date of birth of a member cannot be ascertained or is doubtful, his date of birth shall be deemed to be 1st January of the year in which he was born.
Procedure for withdrawal of amount referred to in section 15(6C)(b) of Act, etc.
18. Every application by any person —
(a)
for the withdrawal of the amount referred to in section 15(6C)(b) of the Act for deposit in a retirement account or with an approved bank;
(b)
for the withdrawal of the amount referred to in section 15(6C)(b) of the Act to purchase an approved annuity from an insurer;
(ba)
under regulation 11A(1) or (2);
(c)
for exemption under section 15(8) of the Act; or
(d)
for any purpose in connection with these Regulations,
shall be made in such forms and supported by such evidence as the Board may require.
19. If a member commits a breach of any of the provisions of these Regulations or, if for any purpose connected with these Regulations, makes a false representation or furnishes any false information the Board may —
(a)
require the member to refund to his retirement account any amount withdrawn by him from the amount referred to in section 15(6C)(b) of the Act, together with the whole or such part, as the Board may determine, of the interest that would have been payable thereon if the withdrawal had not been made; or
(b)
require the member to surrender the approved annuity purchased with the amount referred to in section 15(6C)(b) of the Act and refund all the moneys representing the surrender value of the approved annuity to his retirement account, together with the whole or such part, as the Board may determine, of the interest that would have been payable on the moneys withdrawn to purchase the approved annuity if the withdrawal had not been made.