No. S 718
Central Provident Fund Act
(Chapter 36)
Central Provident Fund (Amendment) Regulations 2007
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, hereby makes the following Regulations:
Citation and commencement
1.  These Regulations may be cited as the Central Provident Fund (Amendment) Regulations 2007 and shall come into operation on 1st January 2008.
Amendment of regulation 3
2.  Regulation 3 of the Central Provident Fund Regulations (Rg 15) is amended by deleting paragraph (2) and substituting the following paragraph:
(2)  Where the Board has recovered any interest in respect of arrears of contributions, the Board shall pay the whole or such part, as the Board may determine, of the interest that would have been payable on the contributions that were received late if those contributions had been paid on the due date.”.
Amendment of regulation 7
3.  Regulation 7 of the Central Provident Fund Regulations is amended —
(a)by deleting the words “credit interest, on the amount restored,” in paragraph (1) and substituting the words “credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if that amount had not been debited from the member’s account,”;
(b)by deleting the words “credit interest in such manner as the Board considers fit on the amount restored as if the transfer had not taken place” in paragraph (4) and substituting the words “credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if the transfer had not taken place, in such manner as the Board considers fit”;
(c)by deleting the words “credit interest on the amount restored as if the transfer had not taken place” in paragraph (5) and substituting the words “credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if the transfer had not taken place,”; and
(d)by deleting the words “credit interest, on the amount restored,” in paragraph (6) and substituting the words “credit the whole or such part, as the Board may determine, of the interest that would have been payable on the amount restored if that amount had not been debited from the member’s account,”.
[G.N. Nos. S 695/2002; S367/2003; S 780/2004]

Made this 21st day of December 2007.

LEO YIP
Permanent Secretary,
Ministry of Manpower,
Singapore.
[MMS 7/68 V52; AG/LEG/SL/36/2005/44 Vol. 1]
(To be presented to Parliament under section 78(2) of the Central Provident Fund Act).