Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 2019

Status:

Published in Subsidiary Legislation Supplement
on 09 May 2019

No. S 369

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund
(Residential Properties Scheme)
(Amendment) Regulations 2019

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 are the Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 2019 and come into operation on 10 May 2019.

Amendment of regulation 4

2. Regulation 4 of the Central Provident Fund (Residential Properties Scheme) Regulations (Rg 6) is amended by deleting paragraphs (1) and (2) and substituting the following paragraphs:

“(1) A member is not entitled to withdraw any money for any purpose permitted under these Regulations in respect of a residential property unless the member has acquired or is about to acquire, with respect to the residential property —

(a)

an estate in fee simple or perpetuity; or

(b)

a leasehold estate with an unexpired term of —

(i)	more than 20 years as at the specified date — if the specified date is on or after 10 May 2019; or
(ii)	30 years or more as at the specified date — if the specified date is before 10 May 2019.

(2) Even though a member does not satisfy the requirement in paragraph (1)(a) or (b), the Board may in its discretion authorise, subject to any terms and conditions it may impose, the withdrawal of money by the member for any permitted purpose under these Regulations in respect of the residential property.”.

Amendment of regulation 28A

3. Regulation 28A of the Central Provident Fund (Residential Properties Scheme) Regulations is amended by deleting the words “provision of these Regulations provides for any moneys withdrawn by a member to be paid” and substituting the words “moneys withdrawn by a member are paid voluntarily, or pursuant to any provision of these Regulations,”.

[G.N. Nos. S 253/2007; S 512/2007; S 584/2007; S 703/2007; S 188/2009; S 445/2009; S 733/2011; S 691/2012; S 385/2013; S 479/2013; S 747/2013; S 237/2015; S 650/2016]

Made on 9 May 2019.

AUBECK KAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2019; AG/LEGIS/SL/36/2015/35 Vol. 1]

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

Search within Legislation