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No. S 189

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Approved Housing Schemes) (Amendment) Regulations 2009

In exercise of the powers conferred by section 77(1)(h) 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 (Approved Housing Schemes) (Amendment) Regulations 2009 and shall come into operation on 1st May 2009.

Amendment of regulation 2

2. Regulation 2(1) of the Central Provident Fund (Approved Housing Schemes) Regulations (Rg 12) (referred to in these Regulations as the principal Regulations) is amended —

(a)

by inserting, immediately after the definition of “flat”, the following definition:

“ “HDB flat” means a house or flat sold, transferred, assigned or otherwise disposed of under an approved housing scheme by the Housing and Development Board, an approved developer under Part IVB of the Housing and Development Act, or a lessee of the Housing and Development Board;”; and

(b)

by inserting, immediately after the definition of “Jurong Town Corporation”, the following definition:

“ “Lease Buyback Scheme” means a scheme by that name administered by the Housing and Development Board under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money part of which is to be used for the purchase of an annuity from the Board;”.

Amendment of regulation 13

3. Regulation 13 of the principal Regulations is amended by inserting, immediately after paragraph (10), the following paragraph:

“(10A) Paragraphs (2) to (5) and (10) do not apply to the reduction of the term of the lease of the house or flat, being an HDB flat, pursuant to an agreement entered into between the member and the Housing and Development Board under the Lease Buyback Scheme.”.

Amendment of regulation 14A

4. Regulation 14A of the principal Regulations is amended by inserting, immediately after paragraph (2), the following paragraph:

“(2A) Paragraph (2) does not apply to the reduction of the term of the lease of the house or flat, being an HDB flat, pursuant to an agreement entered into between the member and the Housing and Development Board under the Lease Buyback Scheme.”.

[G.N. Nos. S 255/2007; S 507/2007; S 706/2007; S 693/2008]

Made this 28th day of April 2009.

BENNY LIM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMC 29/68-07 TF1; AG/LEG/SL/36/2005/1 Vol. 3]

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