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No. S 398

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Medisave Account Transfers) (Amendment) Regulations 2009

In exercise of the powers conferred by section 77(1)(ka) 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 (Medisave Account Transfers) (Amendment) Regulations 2009 and shall come into operation on 1st September 2009.

Amendment of regulation 4

2. Regulation 4 of the Central Provident Fund (Medisave Account Transfers) Regulations (Rg 34) is amended by deleting paragraph (b) and substituting the following paragraph:

“(b)

the aggregate of the following amounts is less than the minimum sum applicable to him:

(i)	any amount deposited in his retirement account under section 15(6C)(a) or (b)(i) of the Act which remains standing to his credit in his retirement account;
(ii)	any amount which he has deposited with an approved bank under section 15(6C)(b)(i) of the Act;
(iii)	any amount which he has used to purchase an approved annuity from an insurer under section 15(6C)(b)(ii) of the Act; and
(iv)	any amount deposited in his retirement account under section 15(6C)(a) or (b)(i) of the Act which he has used for the payment of the premium referred to in section 27L(1) of the Act.”.

Made this 29th day of August 2009.

LEO YIP

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 5.2/85v33; AG/LEG/SL/36/2005/31 Vol. 1]

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