(1) The Board may,
with the Minister's approval, provide annuities on terms and conditions fixed
by the Board.
(2) The Board can only
undertake to provide an annuity to a person who is, or has been—
(a) a
member of the Triple S scheme or some other scheme of superannuation
established by an Act; or
(b) a
member of some other scheme of superannuation established for the benefit of
employees of an agency or instrumentality of the Crown.