1964_GRANT_SCHOOLS_PROVIDENT_FUND_RULES — Page 11

1982 Ed.]

Grant Schools Provident Fund Rules

[CAP. 279

C11

[Subsidiary]

(b) he retires voluntarily, resigns or terminates his contract (on completion or otherwise), other than where he retires voluntarily, resigns, or terminates his contract, in order to avoid compulsory retirement, dismissal, or termination of his contract, on account of professional misconduct or being convicted of an offence,

then, subject to paragraph (3), his account shall be closed and, in accordance with rule 14, the payment due to him as a contributor shall be an amount equal to that contributed by him up to the date of cessation of his employment and all dividends that have been declared on that contribution plus an amount equal to the following percentage of all Government donations and all dividends that have been declared on such donations--

(i) 50 per cent, if his continuous contributory service is less than 6 years;

(ii) 60 per cent, if his continuous contributory service is not less than 6 years but less than 7 years;

(iii) 70 per cent, if his continuous contributory service is not less than 7 years but less than 8 years;

(iv) 80 per cent, if his continuous contributory service is not less than 8 years but less than 9 years:

(v) 90 per cent, if his continuous contributory service is not less than 9 years but less than 10 years.

(2A) Without prejudice to paragraph (1)(b), (c) and (d), whenever a contributor ceases to be employed as a teacher in a grant school-

(a) after less than 5 years continuous contributory service; or

(b) for any of the following reasons, (regardless of the length of his continuous contributory service) namely, that-

(i) he is compulsorily retired, or dismissed or his contract is terminated (on completion or otherwise), on account of professional misconduct or being convicted of an offence; or

(ii) he retires voluntarily, resigns, or terminates his contract (on completion or otherwise), in order to avoid compulsory retirement, dismissal, or termination of his contract, on account of professional misconduct or being convicted of an offence,

then, subject to paragraph (3), his account shall be closed and, in accordance with rule 14, an amount equal to that contributed by him up to the date of the cessation of his employment, plus such dividends as have been declared on that contribution, shall be paid to him.

(3) On the application of a contributor who has ceased to make the contributions required under rule 8, the Director may, except-

L.N. 239/82.

L.N. 239/82.