Central Provident Fund (Withdrawals for ElderShield Scheme) (Amendment) Regulations 2016

Status:

Published in Subsidiary Legislation Supplement
on 30 Dec 2016

No. S 724

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund
(Withdrawals for ElderShield Scheme)
(Amendment) Regulations 2016

In exercise of the powers conferred by section 77(1)(k) 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 (Withdrawals for ElderShield Scheme) (Amendment) Regulations 2016 and come into operation on 1 January 2017.

New regulation 11

2. The Central Provident Fund (Withdrawals for ElderShield Scheme) Regulations (Rg 29) are amended by inserting, immediately after regulation 10, the following regulation:

“Repayment of moneys withdrawn and paid under section 67D(2) of Act

11. For the purposes of section 67D(2) of the Act, a withdrawal from a member’s medisave account or payment by the Board to an approved insurer of the amount withdrawn (as the case may be) is not in compliance with these Regulations if —

(a)

an authorisation under regulation 3(2) or (3) for the withdrawal, made or purportedly made by the member —

(i)	is not signed by the member;
(ii)	is signed by the member when the member lacks capacity within the meaning of section 4 of the Mental Capacity Act (Cap. 177A) to make the decision to authorise the withdrawal; or
(iii)	is given on the basis of inaccurate or misleading information from the approved insurer or any other person;

(b)

where the Board imposes any terms and conditions under regulation 3(5) when authorising the withdrawal, any of the terms or conditions are breached in relation to the withdrawal;

(c)

any of the terms and conditions required by the Board under section 67B(2) of the Act, in relation to an application for the withdrawal, are breached by the approved insurer;

(d)

the amount withdrawn or paid exceeds —

(i)	the premium that is payable by the member or the member’s dependant, as the case may be, under the insurance policy for which the amount is withdrawn or paid; or
(ii)	the maximum amount permitted by regulation 3(6); or

(e)

the withdrawal is authorised or the amount withdrawn is paid by the Board on the basis of inaccurate or misleading information.”.

[G.N. No. S 543/2012]

Made on 30 December 2016.

AUBECK KAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 7/68 V58; AG/LEGIS/SL/36/2015/42 Vol.1]

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

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