Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 1996

Status:

Published in Subsidiary Legislation Supplement
on 02 Aug 1996

No. S 341

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 1996

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

1. These Regulations may be cited as the Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 1996 and shall come into operation on 2nd August 1996.

2. The Central Provident Fund (Residential Properties Scheme) Regulations are amended by inserting, immediately after regulation 4, the following regulation:

“Cash grants

4A.—(1) Where a cash grant made under an approved scheme administered by the Ministry of National Development has been paid into the Fund for any person under section 14 of the Act and the person has purchased or applied to purchase a residential property, the Board may, subject to these Regulations, and to such terms and conditions as it may impose, permit that person to withdraw the cash grant for all or any of the purposes specified in these Regulations.

(2) All moneys withdrawn under paragraph (1) together with any interest which would have accrued thereto if the withdrawal had not been made —

(a)	shall be payable to the Board if the person has committed a breach of any of the terms and conditions of the cash grant and the Minister for National Development, or any officer duly authorised by him, does not waive the breach in writing; and
(b)	notwithstanding regulation 21(3), shall remain payable to the Board on the death of the member or when the member is entitled to withdraw the sum standing to his credit under section 15 of the Act.

[Rg 6.]

[G.N. Nos.]

[S 478/92]

[S 387/93]

[S 482/95”.]

Made this 30th day of July 1996.

MOSES LEE KIM POO

Permanent Secretary,
Ministry of Labour,
Singapore.

[ML. 007/68 Vol. 12; AG/SL/19/95/11]

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

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