12. If a member fails to comply with 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, as the case may be —
require the member to terminate the bank account in which any additional sum was deposited; or
require the member to surrender the approved annuity purchased with the additional sum,
whereupon the additional sum or the balance thereof or the money representing the surrender value of the approved annuity shall be paid to the member in accordance with regulation 9.