Section 65C(12) in The Coal Mines Provident Fund Scheme
(12)In the event of a member withdrawing his accumulations in the Fund under paragraph 63 before the maturity of his insurance policy financed partly or wholly out of his accumulations in the Fund, the policy so financed shall be assigned in favour of the member. When the assured sum of a policy financed partly or wholly out of the Fund falls clue for payment before orders for payment of the accumulations in the Fund of the member concerned have been passed the policy money shall be realised by the Fund from the Life Insurance Corporation of India and credited in the member's own contribution account in the Fund. Such amount shall on receipt in the Fund be deemed as the member's own contribution to the Fund for currency period in which received and be paid to him or his nominee(s) or his heir(s), as the case may be, in accordance with the provisions contained in this Scheme.
