21KInvestment funds

21K Investment funds

(1) The Board may establish special arrangements within the Scheme to be called investment funds.

S. 21K(2) amended by No. 95/2000 s. 9(2)(a)(b).

(2) The Board may, with the consent of a beneficiary, member or spouse, treat the whole or part of a beneficiary's, member's or spouse's account as forming part of an investment fund.

S. 21K(3) amended by No. 95/2000 s. 9(2)(a)(b).

(3) The Board may allow a beneficiary, member or spouse to elect, at such time and on such terms as the Board determines, to withdraw the whole or part of a beneficiary's, member's or spouse's account from an investment fund and to treat the whole or part of the same as forming part of the Scheme or a different investment fund or to pay the whole or part to that beneficiary, member or spouse.

S. 21K(4) amended by No. 95/2000 s. 9(2)(b).

(4) If any part of a beneficiary's, member's or spouse's account balance is treated as forming part of an investment fund, the adjustment to the beneficiary's, member's or spouse's account balance under section 21L must have regard to that particular investment.

S. 21L inserted by No. 82/1996 s. 11.