Central Provident Fund (Medisave Account Transfers) (Amendment) Regulations 2019

Status:

Published in Subsidiary Legislation Supplement
on 09 May 2019

No. S 377

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund
(Medisave Account Transfers)
(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 (Medisave Account Transfers) (Amendment) Regulations 2019 and come into operation on 10 May 2019.

Amendment of regulation 4

2. Regulation 4 of the Central Provident Fund (Medisave Account Transfers) Regulations 2016 (G.N. No. S 721/2016) is amended —

(a)

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

“(b)

the amount of the member’s applicable charges specified by the Board under paragraph (4), not exceeding the maximum amount of the member’s property component under regulation 4(1)(b)(ii) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations (Rg 2) or regulation 4(1)(b)(ii) of the Central Provident Fund (New Retirement Sum Scheme) Regulations (Rg 31), as the case may be.”; and

(b)

by inserting, immediately after paragraph (3), the following paragraphs:

“(4) The Board is to specify an applicable charge for the purposes of paragraph (3)(b) but only if the requirement in regulation 4B(2) of the Central Provident Fund (Revised Retirement Sum Scheme) Regulations or regulation 4B(2) of the Central Provident Fund (New Retirement Sum Scheme) Regulations (as the case may be) is satisfied.

(5) In this regulation, “applicable charge” means any charge or undertaking under section 15(9), (9A), (10), (10A), (11D) or (11E), 21(1), 21A(1), 21B(1), 27C(1)(v), 27D(1)(v), 27DA(1)(v), 27E(1)(iv) or 27F(1)(iv) of the Act.”.

[G.N. Nos. S 792/2017; S 598/2018]

Made on 9 May 2019.

AUBECK KAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2019; AG/LEGIS/SL/36/2015/14 Vol. 1]

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

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