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Contents

Long Title

Part I PRELIMINARY

Part II CONTRIBUTIONS TO FUND

Part III WITHDRAWAL OF CONTRIBUTIONS

Part IIIA DIVISION OF FUND-RELATED ASSETS IN MATRIMONIAL PROCEEDINGS

Part IIIB LIFELONG INCOME SCHEME

Part IV HOME PROTECTION INSURANCE SCHEME

Part V DEPENDANTS’ PROTECTION INSURANCE SCHEME

Part VI MEDISHIELD SCHEME

Part VIA WORKFARE INCOME SUPPLEMENT SCHEME

Part VII OFFENCES, PENALTIES AND PROCEEDINGS

Part VIII MISCELLANEOUS

FIRST SCHEDULE Rates of Contribution

SECOND SCHEDULE Financial Provisions

THIRD SCHEDULE Specified Acts Relating to Self-employed Persons

Legislative History

Comparative Table

 
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Crediting of contributions and interest into subsidiary accounts, etc.
13.
—(1)  Subject to subsections (7A) to (7G), there shall be maintained for each member in respect of the money standing to his credit in the Fund the following subsidiary accounts:
(a)
an ordinary account from which, apart from subsection (7) and sections 15(2), (3), (4) and (5), 18, 18A, 18B, 18C, 22, 27B, 32 and 45 but subject to sections 14, 14A and 15A, withdrawals may be made in accordance with any regulations made under section 51(b) or 77(1)(h), (i) or (n);
(b)
a medisave account from which, apart from subsection (6) and sections 15(2), (3), (4) and (5), 16A27B and 54, withdrawals may be made in accordance with any regulations made under section 77(1)(j) and (k); and
(c)
a special account from which no withdrawal may be made except under subsection (7) or section 15(2), (3), (4) or (5), 1718, 18A, 18C, 19A, 27B or 45 or in accordance with any regulations made under section 77(1)(n) or (oa).
(2)  Every ordinary account, medisave account and special account which was maintained by the Board for a member before 28th September 1984 shall be deemed to have been validly maintained.
[32/84]
(3)  All moneys standing to the credit of a member in his special account as at 1st April 1984 shall be deemed to have been transferred to his medisave account except where the member is entitled at that date to withdraw such money under section 15.
[32/84]
(4)  The Board shall credit to the accounts of a member specified in subsection (1), in such manner as the Minister may direct, every contribution paid into the Fund for the member under —
(b)
any regulations made under section 77(1)(e); or
(c)
such other provision as the Minister may prescribe.
(4A)  The Minister may give different directions in respect of different classes of members under subsection (4).
(5)  The Board shall credit to each account of a member the interest referred to in section 6(4) on the amount standing to the credit of the member in that account.
(5A)  Where any additional interest is payable to a member under section 6(4B) —
(a)
the Board shall credit the additional interest into one or more of the member’s ordinary account, medisave account, special account and retirement account (if any) in such manner as the Board may determine; and
(b)
the Board may make different determinations under paragraph (a) in respect of different classes of members.
(6)  The Board shall transfer to one or more designated accounts of a member, in accordance with any regulations made under section 77(1)(ka), any amount standing to his credit in his medisave account which is in excess of such amount as the Minister may from time to time direct.
(7)  Where there is no balance in the medisave account of a member, the Board may, upon application by the member and with the approval of the Minister, transfer to the medisave account of the member any amount standing to his credit in any designated account which had been transferred from the medisave account, including the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the transfer had not been made.
(7A)  The Board may transfer to a member’s ordinary account, in accordance with any regulations made under section 77(1)
(a)
if the member’s accounts in the Fund are deemed to be dormant, and such period (as may be prescribed in those regulations) after the day his accounts in the Fund are deemed to be dormant has passed, any amount standing to his credit in the Fund; or
(b)
if the member has died, and such period (as may be prescribed in those regulations) after the day of his death has passed, any amount standing to his credit in the Fund that is not in any nominee account maintained for him.
(7B)  The Board may transfer to the general moneys of the Fund, in accordance with any regulations made under section 77(1)
(a)
if a member’s accounts in the Fund are deemed to be dormant, and the 7th anniversary of the day his accounts in the Fund are deemed to be dormant has passed, any amount standing to his credit in the Fund; or
(b)
if a member has died, and the 7th anniversary of the day of his death has passed, any amount standing to his credit in the Fund that is not in any nominee account maintained for him.
(7C)  Where the Board has transferred any amount standing to a member’s credit in the Fund to his ordinary account under subsection (7A)(a) or to the general moneys of the Fund under subsection (7B)(a) or any regulations made under section 77(1) —
(a)
the Board shall restore the transferred amount (including the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the transfer had not been made) to the member’s account in the Fund from which that amount had been transferred, if the Board is satisfied that the member was still alive at the time of the transfer;
(b)
if the Board is served with an order of court referred to in section 27B awarding 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) —
(i)
where the amount awarded under the order of court exceeds the amount standing to the member’s credit in the Fund (including the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the transfer had not been made), the Board shall restore the latter amount (including interest) to the member’s account in the Fund from which that amount had been transferred; or
(ii)
where the amount awarded under the order of court does not exceed the amount standing to the member’s credit in the Fund (including the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the transfer had not been made), the Board shall restore the former amount to the member’s account in the Fund from which that amount had been transferred; and
(c)
the Board may restore the whole or any part of the transferred amount (including the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the transfer had not been made) to the member’s account in the Fund from which that amount had been transferred in such other circumstances as may be prescribed in any regulations made under section 77(1).
(7D)  Where the Board has transferred any amount standing to a member’s credit in the Fund to his ordinary account under subsection (7A)(b) or to the general moneys of the Fund under subsection (7B)(b) or any regulations made under section 77(1), the Board may restore the whole or any part of that amount (including the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the transfer had not been made) to the member’s account in the Fund from which that amount had been transferred in such circumstances as may be prescribed in any regulations made under section 77(1).
(7E)  Where the Board is unable to ascertain a member’s identity, the Board may transfer to the general moneys of the Fund, in accordance with any regulations made under section 77(1), any amount standing to his credit in the Fund.
(7F)  Where, after the Board has transferred any amount standing to a member’s credit in the Fund to the general moneys of the Fund under subsection (7E) or any regulations made under section 77(1), the Board ascertains the identity of the member, the Board shall restore that amount (including the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the transfer had not been made) to the member’s account in the Fund.
(7G)  Subsections (7A) to (7F) do not preclude, and do not affect the validity of, any transfer to the general moneys of the Fund, whether before, on or after 1st January 2011, under any regulations made under section 77(1), of any amount standing to a member’s credit in the Fund.
(7H)  Where the Board has transferred any money standing to the credit of a member in the Fund from any account of the member in the Fund (referred to in this subsection as Account A) to any other account in the Fund (referred to in this subsection as Account B) under section 15(2A), (6), (7B) or (8A), 18(1)(a), (2)(a) or (3)(a), 18A(1), 18B(1) or 18C(1), any condition referred to in section 27(2)(b) or (3) or any regulations made under section 77(1), the Board may, on its own motion or on the application of the member, and subject to such terms and conditions as it may impose —
(a)
restore to Account A the whole or any part of the amount of the transferred money;
(b)
pay into Account A the whole or such part, as the Board may determine, of any interest that would have been payable on the restored amount if the restored amount had not been transferred to Account B; and
(c)
transfer, from Account B to the general moneys of the Fund, the whole or such part, as the Board may determine, of any interest paid on the restored amount while the restored amount was in Account B.
(7I)  Where the Board has credited any money to a member’s account in the Fund under section 13(4) or 13B(1)(b) or (2)(b), where any money has been paid into a member’s account in the Fund under section 18(1)(b) or (c), (2)(b) or (3)(b) or any regulations made under section 77(1), or where the Board has credited to a member’s account in the Fund any money paid in error and liable to be refunded or paid under section 74(1), the Board may, on the Board’s own motion or on an application to the Board, and subject to such terms and conditions as the Board may impose —
(a)
refund to the person who paid the money, or pay to any person whom the Board is satisfied is entitled to that payment, the whole or any part of the amount of the money; and
(b)
transfer, from the member’s account in the Fund to the general moneys of the Fund, the whole or such part, as the Board may determine, of any interest paid on the amount refunded or paid under paragraph (a) while that amount was in that account.
(8)  In this section, “designated account”, in relation to a member, means such ordinary account, special account or retirement account (if any) of the member as may be prescribed by any regulations made under section 77(1)(ka).