s 54 Withdrawal from the Fund
(1) The Board may authorize the withdrawal of all sums of money standing to the credit of a member of the Fund upon any terms and conditions as may be prescribed by the Board if the Board is satisfied that— (a) the member of the Fund has died; (b) the member of the Fund has attained the age of fifty-five years; (c) the member of the Fund is physically or mentally incapacitated from engaging in an employment; or (d) (Deleted by Act A1123). (e) the member of the Fund is not a Malaysian citizen and is about to leave Malaysia with no intention of returning to Malaysia. (2) Notwithstanding section 58B, the Board may authorize a member of the Fund who is applying to make a withdrawal under paragraph 54(1)(b) to take up an insurance policy under section 58B upon such terms and conditions as may be prescribed by the Board. (3) When a member of the Fund has made a withdrawal of all amount standing to his credit under paragraph (1)(b), (e) or subsection (2), the member of the Fund shall not be treated as an employee under this Act unless he has given to the Board and his employer a notice in such manner as may be prescribed by the Board of his intention to contribute to the Fund. (4) Notwithstanding subsection (3), a member of the Fund who, before 1 August 1995, has made a withdrawal of all sums of money standing to his credit in the Fund on the grounds that he is about to leave Malaysia with no intention of returning to Malaysia or with the intention of residing in the Republic of Singapore shall be treated as an employee under this Act if he has given to the Board and his employer a notice in such manner as may be prescribed by the Board of his intention to contribute to the Fund. (4A) Subsection (5) shall not apply to a member of the Fund mentioned in subsection (4). (5) A member of the Fund who contributes under subsection (3) may only make a further withdrawal under paragraph (1)(b), (c) or (e) and after the withdrawal he shall cease to be a member of the Fund and shall be precluded from making any further contributions to the Fund. (6) Notwithstanding subsection (1), the Board may authorize an application of a member of the Fund to withdraw part of the amount standing to his credit upon any terms and conditions as may be prescribed by the Board if the Board is satisfied that— (a) the member of the Fund has attained the age of fifty years; (b) the member of the Fund has purchased or built a house; (ba) the member of the Fund has sold the house that was purchased or built using a withdrawal under paragraph (b) and subsequently has purchased or built another house; (c) the member of the Fund has purchased or built a house and has taken a loan under paragraph 26(1)(f) for the purchase or construction of the house; (d) the member of the Fund has purchased or built a house and has taken a loan and the house has been charged as security for the loan; (da) the member of the Fund has sold the house charged as security for the loan under paragraph (d) and has subsequently purchased or built another house and has taken another loan and the new house has been charged as security for the other loan; (e) the member of the Fund has not taken a loan to purchase or build a house but the spouse of the member of the Fund has purchased or built a house and has taken a loan and the house has been charged as a security for the loan provided that the member of the Fund has been registered as a joint proprietor of the house; (f) the member of the Fund or any other person approved by the Board requires medical financing; (g) the member of the Fund requires financing for higher learning for himself or for his child. (h) (Deleted by Act A1190) (7) Notwithstanding subsection 54(6), the Minister may, if he thinks it expedient and after consulting the Board, by order published in the Gazette, add to, vary or modify the purposes for which a member of the Fund may make a withdrawal under subsection (6).