7BCertain servants insured under Part 2 may contribute to Provident Fund

7B Certain servants insured under Part 2 may contribute to Provident Fund

7B Certain servants insured under Part 2 may contribute to Provident Fund

(1) A permanent servant who is insured under the provisions of section 4 and has attained the age of fifty years but is under the age of fifty-five years may, in lieu of effecting additional insurance in accordance with section 4 or 5, request, in the prescribed manner, that contributions be made to the Provident Fund on his behalf in respect of any number of additional cover units of insurance of two hundred dollars each for which he is eligible.

(2) A permanent servant who is insured under the provisions of section 4 and is under the age of fifty years and has applied through the board to an insurance company for an additional policy of insurance under section 4 or 5 and such application has been refused by such insurance company or has been informed that such insurance company will not accept the risk except upon the condition of his being charged a premium in respect of such policy at the rate charged by such insurance company for an age three years or more greater than his actual age, may, in lieu of effecting such additional insurance, request, in the prescribed manner, that contributions be made to the Provident Fund on his behalf in respect of any number of additional cover units of insurance of two hundred dollars each for which he would have been eligible if there had not been such a refusal or loading.

s 7B: Ins 1954 No 41, sec 2 (b). Am 1959 No 2, sec 2 (1) (e); 1975 No 101, Sch 5 (6).