On 18/05/2013,
you requested for the version in force on 18/05/2013
incorporating all amendments published on or before 18/05/2013.
The closest version currently available is that of 30/11/2006.
PART III
GENERAL PROVISIONS
15.
—(1) Where a member terminates the account which he has opened with the minimum sum with an approved bank and does not intend to open another account with another approved bank or 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 has surrendered his approved annuity and does not intend to purchase another approved annuity or 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 his approved annuity and does not intend to purchase another approved annuity or open an account with an approved bank, the member shall transfer all the moneys representing the surrender value of the approved annuity or an amount equal to the value of the minimum sum as determined by the Board, whichever is the less, to his retirement account.
16. Where a member has deposited his minimum sum with an approved bank or has purchased an approved annuity with an insurer, upon the death of the member, the minimum sum set aside by him 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.
18. Every application by any person —
(a)
for the withdrawal of the minimum sum to be deposited in a retirement account or with an approved bank;
(b)
for the withdrawal of the minimum sum to purchase an approved annuity from an insurer;
(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 the minimum sum withdrawn by him together with interest that would have accrued thereto if the withdrawal had not been made; or
(b)
require the member to surrender the approved annuity purchased with the minimum sum and refund all the moneys representing the surrender value of the approved annuity to his retirement account together with interest that would have accrued thereto if the withdrawal had not been made.