On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 18/04/2013.
27B.
—(1) Subject to subsections (2), (3) and (5), where, under an order of court, the spouse of a member of the Fund has been awarded any amount to be paid out from the money standing to the credit of the member in the Fund, including any money which is payable or repayable to the Fund to the credit of the member —
(a)
if the spouse is a citizen or permanent resident of Singapore, the Board shall, as directed by the order of court —
(i)
transfer the amount to one or more designated accounts maintained, or to be maintained, for the spouse in respect of the money standing to the credit of the spouse in the Fund, such transfer —
(A)
to take place as soon as practicable after the Board has received a copy of the order of court; and
(B)
to be in accordance with any regulations made under section 77(1) and subject to such terms and conditions as the Board may determine; or
(ii)
pay the amount to the spouse, such payment to take place —
(A)
after the member has died or become entitled to withdraw the sum standing to the credit of the member under section 15(2) or 27, whichever is the earliest in time; and
(B)
upon an application by the spouse for the withdrawal of the amount; or
(b)
if the spouse is not a citizen or permanent resident of Singapore, the Board shall pay the amount to the spouse, such payment to take place —
(i)
after the member has died or become entitled to withdraw the sum standing to the credit of the member under section 15(2) or 27, whichever is the earliest in time; and
(ii)
upon an application by the spouse for the withdrawal of the amount.
(2) Subject to subsection (5), where the amount standing to the credit of a member in the Fund at the time of the transfer under subsection (1)(a)(i) or payment under subsection (1)(b), after deducting —
(a)
any amount which the Board is entitled to recover on behalf of the Government under section 14(3); and
(b)
any amount which the Board is entitled to receive or recover on behalf of the Government under section 14A(5) or (6),
is less than the amount awarded under the order of court, the Board shall transfer or pay, as the case may be, the first-mentioned amount instead of the amount awarded under the order of court.
(3) Subject to subsection (5), where the amount standing to the credit of a member in the Fund at the time of the payment under subsection (1)(a)(ii), after deducting —
(a)
any amount which the Board is entitled to recover on behalf of the Government under section 14(3);
(b)
any amount which the Board is entitled to receive or recover on behalf of the Government under section 14A(5) or (6);
(c)
the amounts required to be set aside by the member, or from the amount standing to the credit of the member in the Fund, under sections 15 and 16; and
(d)
any amount which the member may be required to set aside under any condition referred to in section 27(2)(b) or (3),
is less than the amount awarded under the order of court, the Board shall pay the first-mentioned amount instead of the amount awarded under the order of court.
(4) A transfer or payment of money by the Board under subsection (2) or (3) —
(a)
shall be a good and valid discharge of the Board’s obligations under the order of court; but
(b)
shall not affect any recourse which the spouse may have against the member for the balance of the amount awarded under the order of court.
(5) Where the order of court requires any amount to be paid or repaid to the Fund to the credit of the member before the Board makes any transfer or payment of money under subsection (1), (2) or (3), the Board shall not make the transfer or payment unless —
(a)
that amount has been paid or repaid to the Fund; and
(b)
the Board has been notified, in such manner as may be prescribed by any regulations made under section 77(1), of the payment or repayment of that amount.
(6) The Board shall make a transfer or payment of money standing to the credit of a member of the Fund under subsection (1)(a)(i) or (b) or (2) —
(a)
notwithstanding sections 24, 25 and 26 and every restriction on withdrawal from the Fund under section 15, 16 or 27 or any regulations made under section 77(1); and
(b)
in priority to —
(i)
(ii)
every deduction which the Board is entitled to make under section 27L, 32, 45 or 54 or any regulations made under section 77(1).
(7) The Board shall make a payment of money standing to the credit of a member of the Fund under subsection (1)(a)(ii) or (3) —
(a)
notwithstanding sections 24, 25 and 26 and every restriction on withdrawal from the Fund under any regulations made under section 77(1); and
(b)
in priority to —
(i)
(ii)
every deduction which the Board is entitled to make under section 27L, 32, 45 or 54 or any regulations made under section 77(1).
(8) The money transferred under subsection (1)(a)(i) or (2) and any interest thereon may be withdrawn in accordance with this Act for such purposes and in such manner as may be prescribed by any regulations made under section 77(1).