Central Provident Fund Act - Singapore Statutes Online

Protection of employee’s interest in execution proceedings and sale under mortgage or charge

68.—(1) Whenever a writ of seizure and sale has been issued in execution of a judgment against an employer and any movable or immovable property or other assets belonging to the employer has been seized or sold or otherwise realised in pursuance of the execution, and, prior to the payment of the proceeds of the sale or other realisation to an execution creditor, notice has been given to the Sheriff or other officer charged with the execution of the writ by the Board that any sum is due to the Fund, no part of the proceeds shall be paid to an execution creditor, unless the court issuing the writ has ascertained and provided for the sum due to the Fund at the date of the sale or other realisation.

(2) Where any interest in any place of employment being sold on the application of a secured creditor under any written law in force for the time being and the Board giving to the Sheriff or other officer charged with the conduct of the sale notice that a sum of money is due by the debtor to the Fund, the proceeds of the sale shall not be paid to any creditor other than to the Government or a secured creditor unless the court ordering the sale has ascertained and provided for the amount due to the Fund at the date of the sale or unless the court is satisfied that all sums due to the Fund have been paid up to the date of sale.

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