Central Provident Fund (Approved Housing Schemes) (Amendment) Regulations 2019

Status:

Published in Subsidiary Legislation Supplement
on 09 May 2019

No. S 371

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund
(Approved Housing Schemes)
(Amendment) Regulations 2019

In exercise of the powers conferred by section 77(1) of the Central Provident Fund Act, the Minister for Manpower, after consulting with the Central Provident Fund Board, makes the following Regulations:

Citation and commencement

1. These Regulations are the Central Provident Fund (Approved Housing Schemes) (Amendment) Regulations 2019 and come into operation on 10 May 2019.

Deletion and substitution of regulation 5A

2. Regulation 5A of the Central Provident Fund (Approved Housing Schemes) Regulations (Rg 12) is deleted and the following regulation substituted therefor:

“Restriction on withdrawal

5A.—(1) This regulation applies only to the withdrawal of money by a member in respect of a house or flat where the Housing and Development Board receives the member’s application to purchase or acquire that house or flat on or after 1 July 2013.

(2) A member is not entitled to withdraw any money for any purpose permitted under these Regulations in respect of a house or flat mentioned in paragraph (1) unless the unexpired term of the leasehold estate of the house or flat on the specified date is —

(a)	more than 20 years — if the specified date is on or after 10 May 2019; or
(b)	30 years or more — if the specified date is before 10 May 2019.

(3) Even though a house or flat does not satisfy the requirement in paragraph (2)(a) or (b) (as the case may be), the Board may in its discretion authorise, subject to any terms and conditions it may impose, the withdrawal of money by the member for any permitted purpose under these Regulations in respect of the house or flat.

(4) In this regulation, “specified date”, in relation to the withdrawal of money by a member in respect of a house or flat, means the date on which the Housing and Development Board receives the member’s application to purchase or acquire that house or flat.”.

Amendment of regulation 16B

3. Regulation 16B of the Central Provident Fund (Approved Housing Schemes) Regulations is amended —

(a)

by deleting sub‑paragraph (b) of paragraph (5) and substituting the following sub‑paragraph:

“(b)

the amount of the member’s applicable charges specified by the Board under paragraph (5A), not exceeding the maximum amount of the member’s property component under regulation 4(1)(b)(ii) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations (Rg 2) or regulation 4(1)(b)(ii) of the Central Provident Fund (New Retirement Sum Scheme) Regulations (Rg 31), as the case may be.”; and

(b)

by inserting, immediately after paragraph (5), the following paragraphs:

“(5A) The Board is to specify an applicable charge for the purposes of paragraph (5)(b) but only if the requirement in regulation 4B(2) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations or regulation 4B(2) of the Central Provident Fund (New Retirement Sum Scheme) Regulations (as the case may be) is satisfied.

(5B) In this regulation, “applicable charge” means any charge or undertaking under section 15(9), (9A), (10), (10A), (11D) or (11E), 21(1), 21A(1), 21B(1), 27C(1)(v), 27D(1)(v), 27DA(1)(v), 27E(1)(iv) or 27F(1)(iv) of the Act.”.

[G.N. Nos. S 255/2007; S 507/2007; S 706/2007; S 693/2008; S 189/2009; S 447/2009; S 736/2011; S 522/2012; S 690/2012; S 386/2013; S 480/2013; S 749/2013; S 239/2015; S 654/2016; S 718/2017; S 438/2018; S 599/2018]

Made on 9 May 2019.

AUBECK KAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2019; AG/LEGIS/SL/36/2015/34 Vol. 3]

(To be presented to Parliament under section 78(2) of the Central Provident Fund Act).

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