Central Provident Fund (Self-Employed Persons) (Amendment No. 2) Regulations 2003

Status:

Published in Subsidiary Legislation Supplement
on 30 Jul 2003

No. S 368

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Self-employed Persons) (Amendment No. 2) Regulations 2003

In exercise of the powers conferred by section 77 (1)(a) and (e) of the Central Provident Fund Act, Dr Ng Eng Hen, Minister of State, Ministry of Education, charged with the responsibility of 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 (Self-Employed Persons) (Amendment No. 2) Regulations 2003 and shall be deemed to have come into operation on 1st January 2003.

Amendment of regulation 14

2. Regulation 14 of the Central Provident Fund (Self-Employed Persons) Regulations (Rg 25) is amended —

(a)

by deleting sub-paragraph (b) of paragraph (3) and substituting the following sub-paragraph:

“(b)

subject to paragraph (4), in the case of a self-employed person who during the relevant year was also employed as an employee, the amount contributed by the person which is obligatory under the Act and any voluntary contribution paid by him or his employer under section 7(4) of the Act in that year.”; and

(b)

by deleting paragraph (4) and substituting the following paragraphs:

“(4) In the case of a self-employed person who during the relevant year was also employed as an employee, the following amounts shall not be included for the purposes of computing the maximum amount referred to in paragraph (2):

(a)	any amount of additional medisave contributions made in that year up to $1,500; and
(b)	any contribution made in that year under sections 73 and 79 of the Act.

(5) Where the Board is satisfied that —

(a)	the amount of voluntary contributions which have been paid into a self-employed person’s account in a relevant year exceeds the maximum amount specified in paragraph (2); or
(b)	the amount of additional medisave contributions which have been paid by his employer in a relevant year exceeds $1,500,

the Board may refund the excess contributions to the self-employed person or to his employer, as the case may be.

(6) The Board may require the self-employed person or his employer to furnish to the Board such information as may be necessary for the purposes of determining whether any refund is payable under paragraph (5).

(7) The Board may retain the whole or any part of the excess contributions to be used to set off against any contribution or interest thereon which is due or may become due to the Board.

(8) In this regulation, “additional medisave contributions” means the contributions paid by an employer under section 7(4)(c) of the Act specifically for the purposes of the medisave account of his employee.”.

Amendment of First Schedule

3. The First Schedule to the Central Provident Fund (Self-Employed Persons) Regulations is amended by deleting the words “1st January 1998 or any subsequent year before 1st January 2003” in item 8 (b) and (c) under the heading “Rates” and substituting in each case the words “1st January 2003 or any subsequent year”.

[G. N. Nos. S 28/98; S 37/2002; S 13/2003]

Made this 28th day of July 2003.

YONG YING-I

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMC 18.3/01; AG/LEG/SL/36/2002/3 Vol. 3]

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

Search within Legislation