On 19/05/2013,
you requested for the version in force on 19/05/2013
incorporating all amendments published on or before 19/05/2013.
The closest version currently available is that of 18/04/2013.
27H.
—(1) Where —
(a)
a member of the Fund has made any investment under any scheme in accordance with any regulations made under section 77(1)(n) (referred to in this section as the relevant regulations); and
(b)
an order of court is made requiring the sale of the member’s interest in the investment,
then, subject to any regulations made under section 77(1), the following provisions shall apply:
(i)
the obligation to effect the sale of the member’s interest in the investment shall lie with the member and not the Board;
(ii)
upon the sale of the member’s interest in the investment, the proceeds from the sale shall be dealt with in accordance with the relevant regulations; and
(iii)
if, under any order of court, the member’s spouse is awarded the proceeds from the sale of the member’s interest in the investment or any part thereof, or any other amount to be paid out from the money standing to the credit of the member in the Fund after the proceeds have been repaid to the Fund to the credit of the member —
(A)
section 27B shall apply to the proceeds or part thereof or other amount, and the proceeds or part thereof shall be regarded as money repayable to the Fund to the credit of the member for the purposes of section 27B(1) and (5);
(B)
where under the relevant regulations the proceeds are not immediately repayable to the Fund to the credit of the member, the obligation to initiate the repayment of the proceeds or part thereof to the Fund to the credit of the member shall lie with the member and not the Board;
(C)
when the proceeds or part thereof have been repaid to the Fund, the member shall notify the Board of the repayment for the purposes of section 27B(5); and
(D)
the Board shall be under no obligation to ascertain whether, or to ensure that —
(DA)
the member has complied with the order of court requiring the sale of the member’s interest in the investment;
(DB)
the proceeds or part thereof awarded to the member’s spouse, or required to be repaid to the Fund to the credit of the member, have been repaid to the Fund; or
(DC)
the contents of any notification of repayment given by the member for the purposes of section 27B(5) are true and correct.