Central Provident Fund (Minimum Sum Scheme) (Amendment) Regulations 2006

Status:

Published in Subsidiary Legislation Supplement
on 28 Jun 2006

No. S 370

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Minimum Sum Scheme) (Amendment) Regulations 2006

In exercise of the powers conferred by section 77(1)(o) of the Central Provident Fund Act, 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 (Minimum Sum Scheme) (Amendment) Regulations 2006 and shall come into operation on 1st July 2006.

Amendment of regulation 2

2. Regulation 2 of the Central Provident Fund (Minimum Sum Scheme) Regulations (Rg 16) (referred to in these Regulations as the principal Regulations) is amended by deleting paragraph (2) and substituting the following paragraphs:

“(2) Notwithstanding paragraph (1), regulations 4 (2) and 12 (2) and (3) shall apply to a married couple only if each spouse is a member of the Fund and has attained the age of 55 years on or after 1st January 1987 but before 1st July 1995.

(3) Notwithstanding paragraphs (1) and (2), a member of the Fund to whom section 15(2A), (7B) or (8A) of the Act applies, and who has complied with that provision, need not comply with these Regulations.”.

Amendment of regulation 3

3. Regulation 3 of the principal Regulations is amended by deleting paragraph (2) and substituting the following paragraph:

“(2) The amount which a member shall be entitled to withdraw each month under section 15(7) of the Act, and the amount prescribed by the Minister for the purposes of section 15(8)(e) of the Act, shall be as specified in regulation 14 (1).”.

Amendment of regulation 5

4. Regulation 5 of the principal Regulations is amended by deleting paragraphs (c) and (d) and substituting the following paragraph:

“(c)	the amount withdrawn by the member pursuant to regulations made under section 77(1)(n) of the Act (relating to the making of investments).”.

Deletion of regulation 6

5. Regulation 6 of the principal Regulations is deleted.

Amendment of regulation 12

6. Regulation 12 of the principal Regulations is amended by deleting paragraphs (5) and (6).

Amendment of regulation 15

7. Regulation 15(3) of the principal Regulations is amended by deleting the words “section 15 (8) (b)” and substituting the words “section 15 (8) (e)”.

[G.N. Nos.S 350/98; S 299/99; S 574/2003; S 389/2004; S 759/2005]

Made this 20th day of June 2006.

LEO YIP

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 5.2/85 V23; AG/LEG/SL/36/2005/16 Vol. 1]

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

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