On 25/05/2013,
you requested for the version in force on 25/05/2013
incorporating all amendments published on or before 25/05/2013.
The closest version currently available is that of 18/04/2013.
Amount payable by Board to Housing Authority or approved mortgagee on death or incapacity of member of Scheme
36.
—(1) Where a member of the Scheme dies at any time during the period he is insured under the Scheme, the Board shall, upon proof of death, forthwith pay to the Housing Authority or the approved mortgagee such an amount as is prescribed under regulations made under this Part.
[30/87]
(2) Subject to subsections (3), (4) and (5), where there is a claim made to the Board by a member of the Scheme on the ground of incapacity at any time during the period he is insured under the Scheme, the Board shall upon proof of incapacity pay to the Housing Authority or the approved mortgagee, as the case may be, the monthly or other periodic loan instalments which the member of the Scheme is liable to pay to the Housing Authority or the approved mortgagee under the housing loan for a period not exceeding 2 years.
[39/2000]
(3) For the avoidance of doubt, where the housing loan is taken from a Housing Authority or an approved mortgagee by 2 or more members of the Scheme in respect of property purchased jointly by the members, the monthly or other periodic loan instalments payable by the Board under subsection (2) on account of the incapacity of a member shall be in proportion to that member’s liability for the repayment of the housing loan as declared by that member to, and accepted by, the Board.
[39/2000]
(4) The Board shall cease payment to the Housing Authority or the approved mortgagee under subsection (2) if the member of the Scheme is no longer incapacitated.
[39/2000]
(5) Where the Board ceases payment to the Housing Authority or the approved mortgagee under subsection (4), the member of the Scheme shall remain insured under the Scheme for such an amount as is prescribed under regulations made under this Part less any amount that the Board has paid under subsection (2).
[39/2000]
(6) Notwithstanding subsection (2), if the incapacity of the member of the Scheme is in the opinion of the Board likely to continue for more than 2 years, the Board shall pay the Housing Authority or the approved mortgagee such an amount as is determined in accordance with the formula —
(A + B) — C, | |
where A | is the amount prescribed under regulations made under this Part to be payable at the time of incapacity of the member; |
B | is the amount of interest accrued on A as determined by the Board from the time the first monthly or periodic loan instalment is made under subsection (2) to the time the amount under this subsection is paid by the Board; |
C | is the total amount paid by the Board to the Housing Authority or the approved mortgagee under subsection (2). |
[39/2000]
(7) Where a claim under the Scheme is made in respect of the incapacity of a member of the Scheme, the Board may backdate any payment to be made by the Board to the Housing Authority or the approved mortgagee under this section to the date on which the incapacity occurred.
[39/2000]
(8) The amount payable by the Board to the Housing Authority or the approved mortgagee under this section on the death or incapacity of a member of the Scheme shall in no case exceed the amount which is necessary to repay the outstanding amount of any loan and interest accruing thereon in order to secure the discharge of the mortgage of the immovable property at the time of the death or incapacity.
[30/87]
(9) The Board shall not be required to make any payment in respect of any member of the Scheme —
(a)
if the death or incapacity of the member —
(i)
in the case of a member who was insured under the Scheme before 1st March 2001, occurs within one year from the date he is insured under the Scheme and the death is the result of suicide or the incapacity is the result of deliberate self-injury; or
(ii)
in the case of a member who was insured under the Scheme on or after 1st March 2001, is the result of suicide or deliberate self-injury committed within one year from the date that he is insured under the Scheme;
(b)
if the member suffered capital punishment for any criminal act committed within one year from the date that he is insured under the Scheme;
(c)
if the death or incapacity of the member, directly or indirectly, arose out of or is consequent upon or contributed by his own intentional criminal act committed within one year from the date that he is insured under the Scheme; or
(d)
if the death or incapacity of that member arises from war or any warlike operations or participation in any riot.
[23/89; 39/2000]
(10) The Board shall not be required to make any payment in respect of any member of the Scheme if the member —
(a)
makes or furnishes to the Board any statement or fact that is false or misleading in a material particular; or
(b)
fails to disclose to the Board any material fact or circumstance known to him at the time he is required to be insured under the Scheme which might influence the Board as to whether he should be insured under the Scheme.
[30/87]