Teachers' Superannuation Fund (Sabah) (Dissolution) Act 1998 · s 9

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s 9Payment of lump sum amount

(1)

A person who was, on 15 February 1983, an eligible person shall be paid the amount as recommended in the actuary’s report dated 30 August 1996 and any subsequent revision thereof made by the actuary and an additional forty per cent of that amount.

(2)

The lump sum amount to be paid under subsection (1) shall be paid out of the moneys referred to in section 6 and, if such moneys are insufficient for such purpose, the property and assets referred to in section 5.

(3)

For the purposes of this section, “actuary” means the actuary appointed under the Ordinance by the Board for the purpose of determining the amount to be paid under this Act.