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No. S 390

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund (Home Protection
Insurance Scheme) (Amendment) Regulations 2015

In exercise of the powers conferred by section 39 of the Central Provident Fund Act, the Minister for Manpower makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Central Provident Fund (Home Protection Insurance Scheme) (Amendment) Regulations 2015 and come into operation on 1 July 2015.

Amendment of regulation 6

2. Regulation 6 of the Central Provident Fund (Home Protection Insurance Scheme) Regulations (Rg 11) (referred to in these Regulations as the principal Regulations) is amended —

(a)	by inserting, immediately after the words “the insured under the Scheme” in paragraph (1), the words “, together with the whole or such part, as the Board may determine, of the interest that would have been payable if that amount had been standing to the credit of the insured’s account in the Fund”; and
(b)	by inserting, immediately after the words “First Schedule” in paragraph (2), the words “, together with the whole or such part, as the Board may determine, of the interest that would have been payable if that amount had been standing to the credit of the insured’s account in the Fund”.

Amendment of regulation 17

3. Regulation 17 of the principal Regulations is amended —

(a)	by inserting, immediately after the words “the insured under the Scheme” in paragraph (1), the words “, together with the whole or such part, as the Board may determine, of the interest that would have been payable if that amount had been standing to the credit of the insured’s account in the Fund”; and
(b)	by inserting, immediately after the words “policy year” in paragraph (2), the words “, together with the whole or such part, as the Board may determine, of the interest that would have been payable if that amount had been standing to the credit of the insured’s account in the Fund”.

Amendment of regulation 19B

4. Regulation 19B(3) of the principal Regulations is amended by inserting, immediately after the words “relevant date” in sub‑paragraphs (a) and (b), the words “, together with the whole or such part, as the Board may determine, of the interest that would have been payable if that amount had been standing to the credit of the insured’s account in the Fund”.

Amendment of regulation 20

5. Regulation 20 of the principal Regulations is amended —

(a)

by deleting sub‑paragraph (a) of paragraph (1) and substituting the following sub‑paragraph:

“(a)

there is in force an appropriate policy of insurance and —

(i)	the amount payable under the policy is sufficient to discharge the housing loan owing to the Housing Authority or approved mortgagee which the member declares to the Board as the member’s liability for repayment in the event of the member’s death or incapacity; or
(ii)	the excess of the housing loan owing to the Housing Authority or approved mortgagee which the member declares to the Board as the member’s liability for repayment in the event of the member’s death or incapacity over the amount payable under the policy does not exceed $3,000 or such other amount as the Minister may from time to time determine;”;

(b)

by inserting, immediately after the words “effective date of the exemption from the Scheme” in paragraph (1B)(a), the words “, together with the whole or such part, as the Board may determine, of the interest that would have been payable if that amount had been standing to the credit of the member’s account in the Fund”; and

(c)

by inserting, immediately after the words “as the case may be” in paragraph (1B)(b), the words “, together with the whole or such part, as the Board may determine, of the interest that would have been payable if that amount had been standing to the credit of the member’s account in the Fund”.

[G.N. Nos. S 672/2011; S 735/2011; S 682/2012; S 566/2014]

Made on 24 June 2015.

LOH KHUM YEAN

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 13.1/78 V23; AG/LLRD/SL/36/2010/36 Vol. 2]

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