Central Provident Fund (Investment Schemes) (Amendment) Regulations 2000

No. S 104

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Investment Schemes) (Amendment) Regulations 2000

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

Citation and commencement

1.—(1) These Regulations may be cited as the Central Provident Fund (Investment Schemes) (Amendment) Regulations 2000 and shall, with the exception of regulations 2 and 9, come into operation on 15th March 2000.

(2) Regulation 2 of these Regulations shall come into operation on 1st March 2000.

(3) Regulation 9 of these Regulations shall come into operation on 1st April 2000.

Amendment of regulation 2

2. The Central Provident Fund (Investment Schemes) Regulations (Rg 9) (referred to in these Regulations as the principal Regulations) are amended by renumbering regulation 2 as paragraph (1) of that regulation, and by inserting immediately thereafter the following paragraph:

“(2) A reference in these Regulations to an application made by a member shall include an application made on the member’s behalf by an approved bank with which the member has opened a CPF Investment Account.”.

Amendment of regulation 9

3. Regulation 9 (1) of the principal Regulations is amended —

(a)	by inserting, at the end of sub-paragraph (a), the word “and”;
(b)	by deleting the word “; or” at the end of sub-paragraph (b) and substituting a full-stop; and
(c)	by deleting sub-paragraph (c).

Deletion of regulation 15

4. Regulation 15 of the principal Regulations is deleted.

Amendment of regulation 16

5. Regulation 16 of the principal Regulations is amended by deleting paragraph (1) and substituting the following paragraph:

“(1) Where the available amount is insufficient to pay in full for —

(a)	entitlements to rights issue or any other entitlement taken up by the member; or
(b)	the conversion of warrants to ordinary shares,

in respect of shares purchased with CPF contributions withdrawn under these Regulations as permitted by the Board, the Board may permit the balance of the purchase price to be paid by the member in cash and credited to his CPF Investment Account, subject to such terms and conditions as the Board may impose.”.

Deletion of regulation 17

6. Regulation 17 of the principal Regulations is deleted.

Deletion of regulation 20

7. Regulation 20 of the principal Regulations is deleted.

Amendment of regulation 21

8. Regulation 21 of the principal Regulations is amended by deleting the words “or for the reimbursement of the cost of the purchase” in the 4th and 5th lines.

Amendment of regulation 25

9. Regulation 25 of the principal Regulations is amended by deleting paragraphs (1) and (2), and substituting the following paragraph:

“(1) Where a member has not operated the CPF Investment Account for a period of 2 months or such other period as the Board may allow, the approved bank shall forthwith pay all moneys from his CPF Investment Account to the Board to be credited to his ordinary account in the Fund.”.

[G.N. Nos. S 432/98; S521/98; S 548/98; S 43/99; S 86/99;S 201/99; S 351/99; S 517/99]

Made this 29th day of February 2000.

TAN CHIN NAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MM S 2.4.3/80 V3; AG/LEG/SL/36/97/1 Vol. 1]

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

Search within Legislation