Central Provident Fund (Approved HDB-HUDC Housing Scheme) (Amendment) Regulations 1997

Status:

Published in Subsidiary Legislation Supplement
on 31 Jan 1997

No. S 25

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Approved Hdb-hudc Housing Scheme) (Amendment) Regulations 1997

In exercise of the powers conferred by section 77(1)(h) of the Central Provident Fund Act, the Minister for Labour, after consultation 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 HDB-HUDC Housing Scheme) (Amendment) Regulations 1997 and shall come into operation on 31st January 1997.

Amendment of regulation 2

2. Regulation 2(1) of the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14) is amended by inserting, immediately after the word “Estate” at the end of the definition of “property”, the words “or a house or flat in such Estate sold after the issue of a subsidiary strata title in respect of it pursuant to an application under section 126 of the Land Titles Act (Cap. 157)”.

New regulation 5A

3. The Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14) are amended by inserting, immediately after regulation 5, the following regulation:

“Withdrawal for payment of share in common property transferred by Housing and Development Board

5A.—(1) Where the member is liable as the owner of a property to pay for a share in any common property transferred by the Housing and Development Board pursuant to an application under section 126 of the Land Titles (Strata) Act (Cap. 158), 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conditions as the Board may impose, authorise the whole or part of the amount standing to his credit in the Fund to be withdrawn by him for —

(a)	full or partial payment for his share in the common property;
(b)	periodic payments towards the repayment of a loan or for full or partial repayment of a loan; and
(c)	payment of costs, fees or other incidental expenses arising from the transfer of the common property, the obtaining of the loan or the withdrawal of moneys under this regulation.

(2) The total amount that may be withdrawn by a member under this regulation shall not exceed the amount determined by the Board.

(3) In this regulation —

“common property” has the same meaning as in section 3 of the Land Titles (Strata) Act (Cap. 158);

“loan” means a loan obtained by a member from an approved mortgagee on security of the relevant property to pay in whole or in part for that member's share in the common property;

“owner” includes a co-owner;

“relevant property” means the property, including the common property, which will be comprised in a subsidiary strata title issued to the owner pursuant to the application under section 126 of the Land Titles (Strata) Act (Cap. 158).

(4) This regulation shall not apply where the member has withdrawn any money from the Fund under the Central Provident Fund (Residential Properties Scheme) Regulations (Rg 6) in respect of the property.

(5) Where a member has withdrawn moneys under this regulation, regulations 7 and 10 shall apply as if the word “property” therein refers to “relevant property”.”.

Made this 28th day of January 1997.

MOSES LEE KIM POO

Permanent Secretary,
Ministry of Labour,
Singapore.

[ML 002/80; AG/SL/19/95/12]

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

Search within Legislation