Cap. 450 Art. 46Scheme document as binding agreement.

(1) A scheme as written out in its scheme document shall, when duly disclosed to a beneficiary, be binding on the beneficiary, unless such beneficiary notifies the retirement scheme administrator of his written opposition thereto within a period of two months from the receipt by him of the scheme document.

(2) A beneficiary who is not himself also a contributor shall cease to be a beneficiary under a scheme if he opposes a scheme document which does not reduce the benefits due to him under the scheme.