As enacted

Contents

4. Insertion of new section 23A in the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

The following new section is hereby inserted immediately after section 23 of the principal enactment and shall have effect as section 23A of that enactment:—

23A. (1) Every member of the Fund who—

(a)

has made contributions to the Fund for a period of not less than ten years;

(b)

is presently employed; and

(c)

possesses not less than three hundred thousand rupees to his credit in his individual account, shall, for the purpose of—

(i)

housing; or

(ii)

medical treatment, be entitled to withdraw such amount as does not exceed thirty per centum of the amount lying to his credit in his individual account :

Provided that the Minister may in the interest of the national economy from time to time prescribe the maximum amount which may be withdrawn from any such individual account.

(2)

A member of the Fund who subject to the provisions of subsection (1) makes a withdrawal from the amount lying to his credit in his account, shall upon the completion of a period of ten years from the date of such withdrawal, subject to the provisions of

“ Housing benefits and benefits relating to medical treatment.

paragraphs (b) and (c) of subsection (1) be entitled to make a second withdrawal of such amount as does not exceed thirty per centum from such account for any one of the above purposes.

(3)

Every member shall, during the period he is a contributor to the Fund be entitled to only two withdrawals from his individual account.

(4)

For the purpose of this section—

“housing” includes—

(a)

the construction of a house on a land belonging to a member ;

(b)

the purchase of a land for the construction of a house;

(c)

the purchase of a house;

(d)

the redemption of a mortgage on housing property; or

(e)

the settlement of an outstanding balance of the housing loan received from the approved bank, by such member; and

“medical treatment” includes—

(a)

heart surgery;

(b)

by-pass surgery;

(c)

treatment for cancer including surgery;

(d)

kidney transplant or surgery;

Employees’ Provident Fund (Amendment)

(e)

cesarean operation; or

(f)

hospitalization for not less than fourteen days on the account of an accident.

(5)

A member of the Fund, his or her spouse and his or her children shall be entitled to the medical treatment referred to in this section.

(6)

The Minister may appoint, by Order published in the Gazette different dates for the bringing in to operation of the provisions of sub-paragraph (i) or (ii) of subsection (1) .”.

Read on from s 5