2. Section 59 of the Central Provident Fund Act is amended by inserting, immediately after subsection (5), the following subsections:
“(6) The Board may, on the request by an insurer administering or operating an insurance scheme referred to in section 77(1)(ja), give to the insurer information, in the Board’s possession, on any member that the insurer requires for the purpose of administering or operating the insurance scheme, including information relating to the amount standing to his credit in his medisave account.
(7) The insurer may not use the information given under subsection (6) for any other purpose except —
for the purpose of determining whether a member is entitled to join the insurance scheme referred to in section 77(1)(ja); or
for any other purpose connected with the administration or operation of the insurance scheme.
(8) An insurer who knowingly contravenes subsection (7) shall be guilty of an offence.”.