Section 22 in Bihar Contributory Provident Fund Rules, 1948
22.
(1)If a policy assigned to the Governor of Bihar, under rule 12 matures before the subscriber quits service or before his death, or if a policy on the joint lives of subscriber and his wife, assigned under the said rule, falls due for payment by reason of the wife's death, the Account Officer shall save as provided by sub-rule 23, proceed as follows:-(i)If the amount assured together with the amount of any accrued bonuses is greater than the whole of the amount withheld, or withdrawn from the Fund in respect of the policy with interest thereon at the rate provided in rule 11, the Account Officer, shall re-assign the policy in the Form set forth in the Fourth Schedule to the subscriber or to the subscribers and the joint assured, as the case may be and make it over to the subscriber, who shall pay or re-pay to the Fund the whole or any amount withheld, or withdrawn with interest and in default, the provisions of sub-rule (3) of rule 19 applicable to a failure to assign and deliver a policy shall apply;(ii)if the amount assured together with the amount of any accrued bonuses is less than the whole of the amount withheld or withdrawn with interest, the Account Officer shall realise the amount assured together with any accrued bonus and shall place the amount so realised to the credit of the subscriber in the fund.(2)Save as provided by sub-rule (2) of rule 23, if a policy delivered to the Account Officer under clause (b) sub-rule 19, matures before the subscriber quits the service and before his death, the Account Officer, shall make over the policy to the subscriber:Provided that if the interest on the policy of the wife of the subscriber or of his wife and children; or any of them, was contingent interest which expired when the policy matured, the subscriber, shall pay, or re-pay to the fund either-(i)the whole of any amount withheld or withdrawn from the Fund in respect of the policy with interest thereon at the rate provided in rule 11; or(ii)an amount equal to the amount accrued together with any accrued bonuses whichever is less and, in default the provisions of sub-rule (3) of rule 19, applicable to a failure to assign and deliver a policy shall apply.
