PART I | 1. These Regulations may be cited as the Central Provident Fund (Investment Schemes) Regulations. |
2. In these Regulations, unless the context otherwise requires —| “accounting year” means a period of 12 months commencing on 1st October of each year and ending on 30th September of the succeeding year or such other period as the Board may determine; |
| “approved agent bank” means a bank appointed by the Board under regulation 10(1); |
| “approved corporation” means a corporation approved by the Minister for the purposes of these Regulations; |
| “approved fixed deposit bank” means a bank approved by the Board, with the concurrence of the Minister, for the purposes of these Regulations; |
| “approved fund manager” means a fund management company approved by the Board, with the concurrence of the Minister, for the purposes of these Regulations; |
| “approved insurer” means an insurer approved by the Board, with the concurrence of the Minister, for the purposes of these Regulations; |
| “available amount” means such amount of moneys standing to the credit of a member in the Fund, including any balance in his CPF Investment Account, which the Board may, in accordance with any direction by the Minister, permit the member to withdraw for the purchase of securities under Part II, III or IV; |
| “bank” has the same meaning as in the Banking Act (Cap. 19); |
| “company” means a company incorporated under the Companies Act (Cap. 50) or any previous corresponding law; |
“corporation” means —| (a) | a company which is incorporated in Singapore and wholly or partly owned by the Government, or any subsidiary of such a company which is incorporated in Singapore; or | | (b) | a subsidiary of a statutory board which is incorporated in Singapore; |
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| “CPF contributions” means the moneys standing to the credit of a member in the Fund; |
| “CPF Investment Account” means an account opened by a member with an approved agent bank from which money may be withdrawn for the purchase of securities under Part II; |
“exchange traded fund interest” means any interest —| (a) | in a scheme or arrangement which is made for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of a portfolio of predetermined constituent assets in predetermined proportions, which constituent assets principally comprise securities listed for quotation on any stock exchange; and | | (b) | that is —| (i) | listed for quotation, or has received approval in-principle for listing and quotation, on any stock exchange; and | | (ii) | created and redeemed in blocks of interests in exchange for the constituent assets in the portfolio, including cash as necessary to accomplish such exchange; and | | (iii) | approved by the Board for the purposes of these Regulations, |
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| whether or not the interest is an interest in a unit trust; |
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| “gold” includes gold bars, gold coins, gold certificates, gold savings accounts and gold of at least 999 fineness held by an approved agent bank on behalf of its customers; |
| “insurance policy” means an endowment insurance policy or any other insurance policy or class of insurance policies approved by the Board, other than investment-linked insurance policies; |
| “insurer” means any person registered under the Insurance Act (Cap. 142) to carry on insurance business in Singapore; |
| “investment-linked insurance policy” means an individual insurance policy that provides life insurance where the policy value at any time varies according to the value of the underlying assets at the time; |
| “net realised profit” means the net realised profit a member may withdraw in accordance with regulation 36; |
“securities” means shares in an approved corporation, and the following investment instruments as may be approved by the Board for the purposes of these Regulations —| (a) | fully paid-up ordinary or preference shares and loan stocks or bonds of companies incorporated in Singapore which are listed on the Singapore Exchange; | | (b) | bonds issued —| (i) | by the Government or a statutory board; | | (ii) | by a corporation where the bonds are guaranteed by the Government; or | | (iii) | by the government of a country or an inter-governmental organisation; |
| | (c) | fixed deposit accounts; | | (d) | insurance policies; | | (e) | investment-linked insurance policies, including investments in any collective investment scheme; | | (f) | deposits in fund management accounts; | | (g) | units in unit trust schemes; [S 434/2002 wef 01/09/2002] | | (h) | gold; | | (i) | exchange traded fund interest; [S 434/2002 wef 01/09/2002] |
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| “shares in an approved corporation” means such shares in an approved corporation as may be approved by the Minister for the purposes of Part IV; |
| “Share Profit Account” means a Share Profit Account maintained by the Board for a member for the purposes of these Regulations; |
| “Singapore Exchange” means the Singapore Exchange Securities Trading Limited; |
| “subsidiary”, in relation to a company, has the same meaning as in section 5 of the Companies Act (Cap. 50), whether or not, in the case of a statutory board, it is a corporation for the purposes of that Act; |
| “unit”, in relation to a unit trust scheme, means a right or an interest, whether described as a unit, a sub-unit or otherwise, which may be acquired under the scheme; |
| “unit trust scheme” has the same meaning as in the Securities Industry Act (Cap. 289). |
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| Transaction through specified person |
| 3. No member shall purchase or sell any securities under these Regulations except through the Singapore Exchange or through such person as the Board thinks fit. |
| Denomination of securities |
| 4. All securities purchased or acquired under these Regulations shall, unless otherwise provided for in these Regulations, be denominated in Singapore currency. |
| No pledging of securities |
| 5. All securities purchased or acquired under these Regulations shall not be pledged as collateral for any purpose whatsoever. |
| No withdrawal by member below age of 21 years |
| 6. No member who is below the age of 21 years shall be permitted to make any withdrawal of his CPF contributions under these Regulations. |
| 7. Subject to regulation 40, no member who is an undischarged bankrupt shall be permitted to make any withdrawal of his CPF contributions for the purpose of investment or for any other purpose under these Regulations. |
| Members who receive loan from Government, etc. |
| 8. Subject to regulation 15, a member who has applied for a loan, or is receiving moneys, from the Government pursuant to any approved loan scheme under section 14A of the Act shall not be permitted to make any withdrawal for the purpose of investment or for any other purpose under these Regulations. |
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