Malaysia legislation
Section 9
Section 9
Section 12 of the principal Act is amended—
(a)
by substituting for subsection (1) the following subsection:
“(1) Subject to this Act, any amount standing to the credit of a contributor’s account under this Act may only be withdrawn—
(a)
on the death of the contributor;
(b)
when the contributor has been certified as physically or mentally incapacitated from engaging in the service;
(c)
on the contributor attaining the age of fifty years and, where the contributor is an officer, on the officer attaining the age of compulsory retirement;
(d)
thirty days after the contributor has retired from service; or
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(e)
thirty days after the contributor has been discharged from service.”;
(b)
in subsection (1a), by substituting for the words
“paragraph (1)(b) or (c)” the words “paragraph (1)(c),
(d)
or (e)”;
(c)
by inserting after subsection (1a) the following subsection:
“(1b) For the purpose of withdrawal under paragraph 12(1)(a) or (b), the Lembaga shall authorize the withdrawal of all sum of money standing to the credit of the contributor’s account under this Act, if—
(a)
applied by the heir of the contributor on the death of the contributor; or
(b)
applied by the next of kin of the contributor who has been certified to be physically or mentally incapacitated from engaging in the service.”;
(d)
by inserting after subsection (2) the following subsection:
“(2a) The contributor who has been discharged or has retired from service may opt to withdraw or retain any amount standing to the credit of his account in the Tabung and the amount standing shall be entitled to receive a rate of profit on the contributions retained in the Tabung under this Act.”; and
(e)
in subsection (3), by substituting for the words
“paragraph (1)(b)” the words “paragraphs (1)(d) and (e)”.
Substitution of section 15