Central Provident Fund (Residential Properties Scheme) (Amendment No. 3) Regulations 2005

Status:

Published in Subsidiary Legislation Supplement
on 19 Jul 2008

No. S 468

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Residential Properties Scheme) (Amendment No. 3) Regulations 2005

In exercise of the powers conferred by section 77(1)(h) 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 (Residential Properties Scheme) (Amendment No. 3) Regulations 2005 and shall come into operation on 19th July 2005.

Amendment of regulation 4

2. The Central Provident Fund (Residential Properties Scheme) Regulations (Rg 6) are amended by re-numbering regulation 4 as paragraph (1) of that regulation, and by inserting immediately thereafter the following paragraph:

“(2) Notwithstanding paragraph (1)(b), the Board may, in its discretion and subject to such terms and conditions as it may impose, authorise the withdrawal of money under these Regulations for the payment of the purchase price or part thereof of a residential property or the repayment of any housing loan or part thereof where the member has acquired or will acquire, with respect to the residential property, a leasehold estate having an unexpired term of less than 60 years at the date of his application for the withdrawal of money under these Regulations provided that the unexpired term is not less than 30 years.”.

[G.N. Nos. S 85/99; S563/99; S 106/2001; S 182/2005; S 358/2005]

Made this 15th day of July 2005.

LEO YIP

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MLS 2/80 T1; AG/LEG/SL/36/2005/2 Vol. 1]

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

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