In force2024 Revised EditionCurrent version · 2024 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
National Retirement Scheme Act · 2024 Revised Edition · Part · Offences, Penalties and Proceedings
National Retirement Scheme Act · 2024 Revised Edition · Part · Offences, Penalties and Proceedings
Official textFrom Attorney General's Chambers, unchanged
An amount withdrawn by any member under this Act shall be utilised for the purpose for which the withdrawal was authorised.
member
“member” means any person who has contributed to the member account to whose credit any amount is standing in the account and includes — (a) a self-employed person who has contributed voluntarily under section 15; (b) a self-employed person who has transferred his member account to the retirement account under section 17; and (c) any person who is or was a member in a SCP account;
Where all or any part of the amount withdrawn under this Act is not utilised for the purpose for which the withdrawal was authorised, the member shall return all or such part of the amount which is not utilised to the
Board within 6 months from the date of the withdrawal.
Board
“Board” means the Tabung Amanah Pekerja Board established by section 3 of the Tabung Amanah Pekerja Board Act;
Any member who contravenes this section is guilty of an offence.
Board
“Board” means the Tabung Amanah Pekerja Board established by section 3 of the Tabung Amanah Pekerja Board Act;
member
“member” means any person who has contributed to the member account to whose credit any amount is standing in the account and includes — (a) a self-employed person who has contributed voluntarily under section 15; (b) a self-employed person who has transferred his member account to the retirement account under section 17; and (c) any person who is or was a member in a SCP account;
Part