Section 16D in RSWC Employees General Provident Fund Regulations, 1990
16D.
(1)Corporation shall not make any payment on behalf of subscribers to Insurer nor take steps to keep a policy alive.(2)A policy to be acceptable under these rules shall be one effected by the subscriber himself on his own life, and shall (unless it is a policy effected by a male subscriber which is expressed on the fact of it to be for the benefit of his wife, or of his wife and children, or any of them, by such as may be legally assigned by the subscriber to the Corporation.Explanations(1)A policy on the joint lives of the subscriber & subscriber's wife or husband shall be deemed to be a policy on the life of the subscriber for the purposes of this sub-rule.(2)A policy which has been assigned to the subscriber's wife shall not be accepted unless either the policy is first re- assigned to the subscriber or the subscriber and his wife both join in an appropriate assignment.(3)The policy may not be effected for the benefit of any beneficiary other than the wife or husband of the subscriber or the wife or husband and children of the subscriber or any of them.
