Central Provident Fund (Amendment) Bill

Bill No. 24/1993

Read the first time on 30th July 1993.

An Act to amend the Central Provident Fund Act (Chapter 36 of the 1991 Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:

Short title and commencement

1. This Act may be cited as the Central Provident Fund (Amendment) Act 1993 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

Amendment of section 21

2. Section 21(1) of the Central Provident Fund Act is amended by inserting, immediately after paragraph (b), the following paragraph:

“(ba)

to repay any loan or to reimburse any cost, fee or other expense pursuant to regulations made under section 77(1)(ga);”.

Amendment of section 77

3. Section 77 of the Central Provident Fund Act is amended —

(a)

by inserting, immediately after paragraph (g) of subsection (1), the following paragraph:

“(ga)

to provide for members of the Fund to apply or withdraw all or part of the contributions and interest standing to their credit in the Fund —

(i)	for the repayment of any loan taken to finance or re-finance the purchase of any land (with or without any building thereon) and the cost incurred for the construction of any dwelling-house thereon, including the payment of any cost, fee or other incidental expense incurred for the purchase of that land and the construction of the dwelling-house; and
(ii)	for the reimbursement of the cost for the purchase of any land (with or without any building thereon) and the construction of any dwelling-house thereon, including the payment of any cost, fee or other incidental expense incurred for the purchase of that land and the construction of the dwelling-house;”; and

(b)

by inserting, immediately after subsection (2), the following subsection:

“(3) No withdrawal shall be allowed to any member pursuant to regulations made under subsection (1)(ga) unless the construction of his dwelling-house has been completed and a temporary occupation permit in respect of the dwelling-house has been issued by the relevant Government authority; and for the purposes of this subsection and subsection (1)(ga), “dwelling-house” means any building which is constructed to be used for human habitation.”.

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