Central Provident Fund (Minimum Sum Topping-Up Scheme) (Amendment) Regulations 2002

Status:

Published in Subsidiary Legislation Supplement
on 01 Jul 2002

No. S 316

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Minimum Sum Topping-up Scheme) (Amendment) Regulations 2002

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

Citation and commencement

1. These Regulations may be cited as the Central Provident Fund (Minimum Sum Topping-Up Scheme) (Amendment) Regulations 2002 and shall come into operation on 1st July 2002.

Amendment of regulation 3

2. Regulation 3 of the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3) is amended by deleting paragraph (3) and substituting the following paragraphs:

“(3) No application shall be made by a member under this regulation unless —

(a)	the total regrossed balance of the member is more than 2 times the prevailing minimum sum in force at the time that the application is made; and
(b)	the total amount in cash standing to his credit in the ordinary and special accounts is more than 2 times the amount specified in the third column of the Second Schedule to the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2).

(4) In this regulation and regulation 5, “prevailing minimum sum” means the amount prescribed under section 18B(3)(b) of the Act.”.

Amendment of regulation 5

3. Regulation 5 of the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations is amended —

(a)

by deleting “$130,000” in the 4th line and substituting the words “2 times the prevailing minimum sum in force at the time”; and

(b)

by deleting paragraph (a) and substituting the following paragraph:

“(a)	the amount in cash standing to his credit in the ordinary and special accounts shall exceed 2 times the amount specified in the third column of the Second Schedule to the Central Provident Fund (Revised Minimum Sum Scheme) Regulations (Rg 2); and”.

[G.N. Nos. S 349/98; S297/99; S 315/2000; S 590/2000; S 165/2001]

Made this 28th day of June 2002.

YONG YING-I

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MM S 5.2R /85 V3; AG/LEG/SL/36/2002/5 Vol. 1]

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

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