Teachers' Superannuation Fund (Sabah) (Dissolution) Act 1998 · Updated to 1 Jan 2006
9. Payment of lump sum amount
Official textFrom Laws of Malaysia Online, unchanged
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.
eligible person
“eligible person” means a person entitled to a superannuation allowance, a gratuity, a pension or any other retirement benefit under the Ordinance;
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.
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.
Ordinance
“Ordinance” means the Teachers’ Superannuation Ordinance 1963 (Sabah) [Sabah Ord. 20 of 1963];
Terms defined in s 2
Board
Defined · s 2“Board” means the Board of Management established under subsection 4(1) of the Ordinance;
eligible person
Defined · s 2“eligible person” means a person entitled to a superannuation allowance, a gratuity, a pension or any other retirement benefit under the Ordinance;
Ordinance
Defined · s 2“Ordinance” means the Teachers’ Superannuation Ordinance 1963 (Sabah) [Sabah Ord. 20 of 1963];