Central Provident Fund (Non-Residential Properties Scheme) (Amendment) Regulations 2015

Status:

Published in Subsidiary Legislation Supplement
on 23 Apr 2015

No. S 238

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund (Non-Residential
Properties Scheme) (Amendment)
Regulations 2015

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, makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Central Provident Fund (Non-Residential Properties Scheme) (Amendment) Regulations 2015 and come into operation on 24 April 2015.

Amendment of regulation 6

2. Regulation 6 of the Central Provident Fund (Non-Residential Properties Scheme) Regulations (Rg 10) is amended by deleting the word “Where” and substituting the words “Subject to regulation 8, where”.

Deletion and substitution of regulation 8

3. Regulation 8 of the Central Provident Fund (Non-Residential Properties Scheme) Regulations is deleted and the following regulation substituted therefor:

“Use of money in special account for payment of loan

8.—(1) Where a member is liable, as owner of a property, to pay the monthly instalments of principal and interest towards a loan, the Board may authorise to be withdrawn from the moneys standing to the member’s credit in the member’s special account an amount not exceeding one of the following to pay the monthly instalments:

(a)	the balance remaining of moneys transferred from the member’s medisave account under section 13(6) of the Act to the member’s special account;
(b)	if the Minister approves the withdrawal, the total amount of moneys standing to the member’s credit in the member’s special account from time to time.

(2) The Board may authorise either or both of the amounts under paragraph (1)(a) and (b) to be withdrawn —

(a)	on the application of the member or if the Board considers it necessary; and
(b)	subject to such terms and conditions as the Board may impose.

(3) The amounts that a member may withdraw under paragraph (1)(a) or (b) are to be determined by the Board.”.

[G.N. Nos. S 254/2007; S 511/2007; S 585/2007; S 705/2007; S 446/2009; S 734/2011; S 693/2012; S 748/2013]

Made on 22 April 2015.

LOH KHUM YEAN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMC 29/68-07 T1 V2; AG/LLRD/SL/36/2010/46 Vol. 1]

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

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