12. Where —
any part of the minimum sum applicable to a member is secured by a charge or pledge against any immovable property; and
any transfer or payment of moneys into the retirement account of the member under these Regulations will result in the amount in cash and charge or pledge set aside by the member as the minimum sum exceeding the minimum sum applicable to the member,
the charge or pledge shall be redeemed to the extent by which the minimum sum applicable to the member is so exceeded.