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No. S 450

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Lease Buyback Scheme) (Exemption) (Amendment) Order 2009

In exercise of the powers conferred by section 69 of the Central Provident Fund Act, the Minister for Manpower hereby makes the following Order:

Citation and commencement

1. This Order may be cited as the Central Provident Fund (Lease Buyback Scheme) (Exemption) (Amendment) Order 2009 and shall come into operation on 1st October 2009.

Amendment of paragraph 2

2. Paragraph 2 of the Central Provident Fund (Lease Buyback Scheme) (Exemption) Order 2009 (G.N. No. S 190/2009) is amended by deleting the definitions of “Housing and Development Board” and “Lease Buyback Scheme” and substituting the following definition:

“ “Lease Buyback Scheme” means a scheme by that name administered by the Housing and Development Board, under which a lessee of an HDB flat who has been approved by the Housing and Development Board to take part in the scheme enters into an agreement with the Housing and Development Board to reduce the term of the lease, in consideration of a sum of money part of which is to be used for the payment of the premium for an annuity plan under the Lifelong Income Scheme established and maintained by the Board under section 27K of the Act.”.

Made this 28th day of September 2009.

LEO YIP

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMC 29/68-07 TF1; AG/LEG/SL/36/2005/35 Vol. 1]