Central Provident Fund (Approved Housing Schemes) Regulations

Central Provident Fund Act

(Chapter 36, Section 77(1)(g))

Rg 12

REVISED EDITION 1990

(25th March 1992)

[1st January 1987]

Citation

1.—(1) These Regulations may be cited as the Central Provident Fund (Approved Housing Schemes) Regulations.

(2) Regulation 5 shall be deemed to have come into operation on 1st March 1986.

(3) Regulation 6 shall be deemed to have come into operation on 2nd June 1984.

Definitions

2.—(1) In these Regulations, unless the context otherwise requires —

“approved housing scheme” means any scheme approved by the Minister for the purchase of houses or flats by members of the Fund;

“Housing and Development Board” means the Housing and Development Board constituted under section 3 of the Housing and Development Act [Cap. 129];

“house or flat” means a house or flat sold by the Housing and Development Board or the Jurong Town Corporation or by a lessee of the Board or Corporation under an approved housing scheme;

“housing loan” means a loan obtained by a member from the Housing and Development Board or the Jurong Town Corporation to pay the whole or part of the purchase price of a house or flat;

“Jurong Town Corporation” means the Jurong Town Corporation constituted under section 3 of the Jurong Town Corporation Act [Cap. 150].

(2) A reference in these Regulations to the purchase of a house or flat includes a purchase made under an agreement for the sale and purchase of the house or flat where title to the house or flat will be conveyed, transferred or assigned to the purchaser on payment of the full purchase price.

Withdrawal for deposit for purchase of house or flat

3. Where a member has made an application to the Housing and Development Board or the Jurong Town Corporation to purchase a house or flat, the Board may, on the application of the member and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund, to be withdrawn from the Fund and paid to the Housing and Development Board or the Jurong Town Corporation as a deposit for the purchase of the house or flat.

Withdrawal for payment of housing loan

4. A member who has purchased a house or flat or has obtained a housing loan for the purchase of a house or flat or both may submit an application to the Board to withdraw the whole or part of the amount standing to his credit in the Fund to be used for the payment of the purchase price or part thereof or for the repayment of any housing loan in full or in part, or for both.

Withdrawal for payment of improvement contributions in respect of upgrading works

4A. A member who is the owner or co-owner or a purchaser or co-purchaser of a house or flat sold by the Housing and Development Board or the Jurong Town Corporation or has purchased a house or flat under these Regulations may submit an application to the Board to withdraw the whole or part of the amount standing to his credit in the Fund to be used for the payment of improvement contributions due to the Housing and Development Board in respect of upgrading works carried out under part IVA of the Housing and Development Act [Cap. 129] including the payment of costs, fees or other incidental expenses arising from such works.

[S 243/95 wef 01/07/1995]

Change in rate of interest

5. Where the amount of monthly instalment which a member is required to pay to the Housing and Development Board towards the repayment of the housing loan is increased or reduced by reason of a change in the rate of interest on the mortgage loan of the house or flat, the Board shall be entitled to make the necessary adjustment when computing the amount of monthly instalment payable by the member; and where a house or flat is jointly owned by two or more persons, the Board shall, if none of the joint-owners by notice in writing to the Board indicate otherwise, require the monthly instalment payable by such joint-owners towards the repayment of the housing loan to be in the same proportion as that before the change in the rate of interest on the mortgage loan of the house or flat.

Cash grants

6. Where a cash grant has been paid into the Fund for any person under section 14 of the Act and such person has purchased or applied to purchase a house or flat, 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.

Disbursements in connection with purchase

7. Where an application for the withdrawal of moneys under these Regulations has been approved by the Board and the member is required to pay any stamp duties, fees and other charges in connection with the purchase of the house or flat, or the creation or discharge of a mortgage on the house or flat or the withdrawal of moneys under these Regulations, the Board may, on his application and subject to such terms and conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn and used for all or any of the aforesaid purposes.

Board to pay direct to Corporation

8. All moneys withdrawn from the Fund under these Regulations shall be paid by the Board to the Housing and Development Board or the Jurong Town Corporation or such other person as the Board thinks fit to receive such moneys.

Repayment on occurrence of certain events

9. Except as otherwise provided in these Regulations, all moneys withdrawn by a member under these Regulations together with any interest that would have accrued thereto if the withdrawal had not been made shall become due and payable to the Board on the occurrence of any of the following events:

(a)	if the house or flat or any interest therein is sold, transferred, assigned or otherwise disposed of by the member;
(b)	if the house or flat or any interest therein is sold, transferred, assigned or otherwise disposed of by any mortgagee or by any other person with or without the consent of the Board;
(c)	if any mortgage or encumbrance is created over the house or flat in favour of a person other than the Housing and Development Board without the written consent of the Board;
(d)	if the member has committed a breach of any of the terms and conditions imposed by the Board in connection with the withdrawal of moneys under these Regulations.

Death

10.—(1) Subject to paragraph (2), all moneys withdrawn from the Fund under these Regulations plus interest shall cease to be payable to the Board on the death of the member or when the member is entitled to withdraw the amount standing to his credit in the Fund under section 15 of the Act.

[S 488/93 wef 01/01/1994]

(2) Where a person has, on or after 1st January 1994 and pursuant to regulation 6, withdrawn a cash grant made under an approved scheme administered by the Ministry of Community Development, the cash grant withdrawn from the Fund plus interest shall remain payable to the Board if the person, before attaining the age of 45 years, has committed a breach of any of the terms and conditions of the cash grant and the Minister for Community Development, or an officer duly authorised by him, does not waive the breach in writing.

[S 488/93 wef 01/01/1994]

Purchase which does not materialise

11. All moneys withdrawn from the Fund under these Regulations by a member shall become due and payable to the Board —

(a)	if the member withdraws his application for the purchase of a house or flat; or
(b)	if the agreement entered into by the member and any person for the purchase of a house or flat is rescinded.

Permitted sale and disposition of proceeds

12.—(1) The Board may, in its discretion and subject to such terms and conditions as it may impose, permit a member who has withdrawn money under these Regulations to sell, transfer, assign or otherwise dispose of the house or flat or any of his estate or interest therein in respect of which such withdrawal has been made to any person, if the Board is satisfied that adequate arrangements have been made to secure the repayment of money into the member's account in the Fund in the manner provided in paragraph (2) or (3).

(2) Where the net proceeds arising from such sale, transfer, assignment or disposition exceed the purchase price of the house or flat —

(a)	the net proceeds of the sale, transfer, assignment or disposition; or
(b)	all moneys withdrawn by him together with any interest that would have accrued thereto if the withdrawal has not been made,

whichever is the less, shall be repaid to his account in the Fund.

(3) Where the net proceeds arising from such sale, transfer, assignment or disposition do not exceed the purchase price of the house or flat —

(a)	the net proceeds of the sale, transfer, assignment or disposition; or
(b)	all moneys withdrawn by him excluding accrued interest,

whichever is the less, shall be repaid to his account in the Fund.

Compulsory acquisition

13. Where a member has withdrawn any moneys under these Regulations and the house or flat in respect of which the withdrawal was made is compulsorily acquired by the Housing and Development Board under section 56 of the Housing and Development Act [Cap. 129] or section 46 of the Jurong Town Corporation Act [Cap. 150], the member shall pay into his account in the Fund —

(a)	all moneys withdrawn by him, less any moneys which may be due and owing to the Housing and Development Board or the Jurong Town Corporation; or
(b)	the amount of compensation due to the member upon acquisition of the house or flat less any moneys which may be due and owing to the Housing and Development Board or the Jurong Town Corporation,

whichever is the less.

Repayment of moneys withdrawn when house or flat vested in Corporation

14.—(1) Subject to paragraph (2), no moneys withdrawn shall be repayable by the member to the Fund where a house or flat in respect of which such withdrawal has been made under these Regulations is vested in the Housing and Development Board under section 47 of the Housing and Development Act or section 40 of the Jurong Town Corporation Act, and the moneys paid or deposited in respect of the house or flat are forfeited.

(2) Where any sum of money paid or deposited in respect of the house or flat is refunded to the member by the Housing and Development Board or the Jurong Town Corporation, as the case may be, upon the vesting of the house or flat as mentioned in paragraph (1), the member shall pay into his account in the Fund the amount so refunded to him or all moneys withdrawn by him, whichever is the less.

Void or rescinded agreements

15.—(1) Subject to paragraph (2), no moneys withdrawn shall be repayable by the member to the Fund where the withdrawal has been made from the Fund under these Regulations and the agreement relating to the purchase of the house or flat in respect of which such withdrawal was made is declared to be void or is rescinded by any court.

(2) Where any agreement relating to the purchase of a house or flat is declared to be void or is rescinded by a court, and the member is entitled to any moneys arising therefrom, the member shall pay such moneys into his account in the Fund.

Withdrawal for purchase of one house or flat

16. Unless otherwise approved by the Board, no member of the Fund shall be entitled to make an application for the withdrawal of moneys under these Regulations in respect of more than one house or flat.

Application to undischarged bankrupt

17. These Regulations shall apply to any member who is an undischarged bankrupt and who with the consent of the Official Assignee purchases a house or flat for the occupation of himself or members of his immediate family.

Application according to Boards procedure

18. An application by a member for the withdrawal of moneys under these Regulations shall be made in writing to the Board in such manner as the Board may direct and any member making such application shall furnish to the Board all such information, evidence and documents as the Board may require.

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