s 27G Order of court for transfer of investments
27G.—(1) Where —(a) a member of the Fund has made any investment under any scheme in accordance with any regulations made under section 77(1)(n) (called in this section the relevant regulations) which, but for section 24, would have been transferable to another person; (b) an order of court is made requiring the transfer of the member’s interest in the investment to his or her spouse; and (c) the spouse is a citizen or permanent resident of Singapore, then, subject to subsection (2) and any regulations made under section 77(1), the following provisions apply: (d) the obligation to effect the transfer of the member’s interest in the investment to the spouse lies with the member and not the Board; (e) upon the transfer of the member’s interest in the investment to the spouse —(i) the spouse is deemed to have made the investment under the scheme and to have assumed the member’s obligations under the relevant regulations in relation to the investment; and (ii) the member ceases to be liable to perform any obligation under the relevant regulations in relation to the investment; (f) if the investment is subsequently sold or otherwise disposed of, the proceeds from the sale or disposal must be dealt with in such manner as may be prescribed by any regulations made under section 77(1). (2) A member’s interest in an investment must not be transferred to his or her spouse under subsection (1) unless and until the spouse meets such criteria and has complied with such requirements as may be prescribed in any regulations made under section 77(1).