Central Provident Fund (Minimum Sum Topping-Up Scheme) (Amendment) Regulations 2004

Status:

Published in Subsidiary Legislation Supplement
on 30 Jun 2004

No. S 388

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Minimum Sum Topping-up Scheme) (Amendment) Regulations 2004

In exercise of the powers conferred by section 77(1) 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 (Minimum Sum Topping-Up Scheme) (Amendment) Regulations 2004 and shall come into operation on 1st July 2004.

Amendment of regulation 2

2. Regulation 2 of the Central Provident Fund (Minimum Sum Topping-Up Scheme) Regulations (Rg 3) (referred to in these Regulations as the principal Regulations) is amended —

(a)

by deleting paragraph (1) and substituting the following paragraph:

“(1) In these Regulations, unless the context otherwise requires, “payment” means payment of moneys other than moneys standing to the credit of the payer in the Fund and “pay” shall be construed accordingly.”;

(b)

by deleting the word “and” at the end of paragraph (2)(a);

(c)

by inserting, immediately after the words “1st July 1995” in paragraph (2)(b), the words “but before 1st July 2004”;

(d)

by deleting the full-stop at the end of sub-paragraph (b) of paragraph (2) and substituting the word “; and”, and by inserting immediately thereafter the following sub-paragraph:

“(c)	if the person has attained or will attain the age of 55 years on or after 1st July 2004, the minimum sum specified in the First Schedule to the Central Provident Fund (New Minimum Sum Scheme) Regulations 2004 (G.N. No. S 386/2004).”;

(e)

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

“(c)	the amount withdrawn by the person pursuant to regulations made under section 77(1)(i) of the Act (relating to the purchase or acquisition of any land with or without any building thereon and cost of construction of any dwelling-house thereon);”;

(f)

by inserting, at the end of paragraph (3)(d), the word “and”;

(g)

by deleting the word “; and” in paragraph (3)(e) and substituting a full-stop; and

(h)

by deleting sub-paragraph (f) of paragraph (3).

Amendment of regulation 3

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

“(b)

the total amount in cash standing to his credit in the ordinary and special accounts —

(i)	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) if he attains the age of 55 years on or after 1st July 1995 but before 1st July 2004; or
(ii)	is more than 2 times the cash portion of the minimum sum specified in the First Schedule to the Central Provident Fund (New Minimum Sum Scheme) Regulations 2004 (G.N. No. S 386/2004) if he attains the age of 55 years on or after 1st July 2004.”.

Amendment of regulation 5

4. Regulation 5 of the principal Regulations is amended 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 —

(i)	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) if he attains the age of 55 years on or after 1st July 1995 but before 1st July 2004; or
(ii)	2 times the cash portion of the minimum sum specified in the First Schedule to the Central Provident Fund (New Minimum Sum Scheme) Regulations 2004 (G.N. No. S 386/2004) if he attains the age of 55 years on or after 1st July 2004; and”.

[G.N. Nos. S 349/98; S297/99; S 315/2000; S 590/2000; S 165/2001; S 316/2002]

Made this 30th day of June 2004.

YONG YING-I

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 5.2/85 Vol. 16; AG/LEG/SL/36/2002/1 Vol. 1]

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

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