No. S 509
Central Provident Fund Act
(Chapter 36)
Central Provident Fund (Approved Hdb-hudc Housing Scheme) (Amendment) Regulations 2007
In exercise of the powers conferred by section 77 (1)(h) and (ra) 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 (Approved HDB-HUDC Housing Scheme) (Amendment) Regulations 2007 and shall come into operation on 1st October 2007.
Amendment of regulation 8
2.  Regulation 8 of the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14) (referred to in these Regulations as the principal Regulations) is amended —
(a)by deleting paragraph (1) and substituting the following paragraphs:
“(1)  Except as otherwise provided in these Regulations, where a member —
(a)has withdrawn any moneys under these Regulations in respect of a property; or
(b)is required under section 27C(1) (iii) or 27E (1) (ii) of the Act to make a payment to the Fund upon the sale or disposal of a property,
in the event that the property or any estate or interest therein is sold, transferred, assigned or otherwise disposed of —
(i)by the member without the consent of the Board; or
(ii)by any other person, including any mortgagee, with or without the consent of the Board,
such of the following amounts as may be applicable to the member or, if both amounts are applicable to him, the aggregate of both amounts shall become due and payable to his account in the Fund:
(A)where paragraph (1)(a) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(B)where paragraph (1)(b) applies to him, the relevant amount as defined in regulation 11(11).
(1A)  Except as otherwise provided in these Regulations, all moneys withdrawn by a member under these Regulations (including any moneys lent to him under section 14A of the Act which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made, shall become due and payable to his account in the Fund in the event that —
(a)any mortgage or encumbrance is created over the property in favour of any person without the consent of the Board; or
(b)the member has committed a breach of any of the terms and conditions imposed by the Board in connection with the withdrawal of moneys under these Regulations.”; and
(b)by deleting the words “the Board” in paragraph (2) and substituting the words “his account in the Fund”.
Deletion and substitution of regulation 9
3.  Regulation 9 of the principal Regulations is deleted and the following regulation substituted therefor:
“No repayment of moneys in certain circumstances
9.  Except as otherwise provided in regulations 11 and 12, where a member —
(a)has withdrawn any moneys under these Regulations in respect of a property; or
(b)is required under section 27C (1) (iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a property,
then —
(i)on the death of the member; or
(ii)when the member is entitled to withdraw the amount standing to his credit in the Fund under section 15 (2), (3) or (4) of the Act and has complied with the requirements for such withdrawal,
such of the following amounts as may be applicable to the member or, if both amounts are applicable to him, the aggregate of both amounts shall cease to be payable to his account in the Fund:
(A)where paragraph (a) applies to him, all moneys withdrawn by him in connection with the purchase of the property (other than any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(B)where paragraph (b) applies to him, the relevant amount as defined in regulation 11(11).”.
Amendment of regulation 11
4.  Regulation 11 of the principal Regulations is amended by deleting paragraphs (1) to (14) and substituting the following paragraphs:
“(1)  The Board may, in its discretion and subject to such terms and conditions as it may impose, permit a member who —
(a)has withdrawn any moneys under these Regulations in respect of a property; or
(b)is required under section 27C(1) (iii) or 27E (1) (ii) of the Act to make a payment to the Fund upon the sale or disposal of a property,
to sell, transfer, assign or otherwise dispose of the property or any of his estate or interest therein to any person, if the Board is satisfied that adequate arrangements have been made to secure the payment to the member’s account in the Fund of the amount specified in this regulation or such part thereof as the Board may determine.
(2)  Subject to paragraphs (3), (9) and (10), where the member making the sale, transfer, assignment or disposal is below the age of 55 years at the time of the sale, transfer, assignment or disposal, he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(a)the net proceeds of the sale, transfer, assignment or disposal; or
(b)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (1)(a) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (1)(b) applies to him, the relevant amount.
(3)  Notwithstanding paragraph (2) but subject to paragraphs (9) and (10), where the member making the sale, transfer, assignment or disposal —
(a)is below the age of 55 years at the time of the sale, transfer, assignment or disposal; and
(b)sells, transfers, assigns or disposes of the property to an immediate family member without consideration or for a consideration below the market value of the property,
he shall, unless the Board otherwise directs, pay to his account in the Fund, in such manner as the Board may determine, such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (1)(a) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (1)(b) applies to him, the relevant amount.
(4)  Subject to paragraphs (5), (7), (9) and (10), where the member making the sale, transfer, assignment or disposal —
(a)has attained the age of 55 years at the time of the sale, transfer, assignment or disposal; and
(b)is required to set aside a minimum sum under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the sale, transfer, assignment or disposal; or
(ii)the aggregate of —
(A)the amount of the minimum sum or any deficiency thereof which he is required to set aside, including the whole or such part, as the Board may determine, of any interest that would have been payable thereon; and
(B)any moneys lent to him under section 14A of the Act in connection with the purchase of the property and withdrawn by him which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
(5)  Notwithstanding paragraph (4) but subject to paragraphs (9) and (10), where the member making the sale, transfer, assignment or disposal —
(a)was adjudicated a bankrupt before attaining the age of 55 years;
(b)has attained the age of 55 years and remains an undischarged bankrupt at the time of the sale, transfer, assignment or disposal; and
(c)is required to set aside the sums under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the sale, transfer, assignment or disposal; or
(ii)the higher of —
(A)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(I)where paragraph (1)(a) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(II)where paragraph (1)(b) applies to him, the relevant amount; or
(B)the aggregate of —
(I)the sums, or any deficiency thereof, which he is required to set aside under section 15(6) of the Act, including the whole or such part, as the Board may determine, of any interest that would have been payable thereon; and
(II)any moneys lent to him under section 14A of the Act in connection with the purchase of the property and withdrawn by him which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
(6)  Subject to paragraphs (9) and (10), where the member making the sale, transfer, assignment or disposal —
(a)was adjudicated a bankrupt before attaining the age of 55 years;
(b)has attained the age of 55 years and remains an undischarged bankrupt at the time of the sale, transfer, assignment or disposal; and
(c)is not required to set aside any sum under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the sale, transfer, assignment or disposal; or
(ii)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(A)where paragraph (1)(a) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(B)where paragraph (1)(b) applies to him, the relevant amount.
(7)  Notwithstanding paragraph (4) but subject to paragraphs (9) and (10), where the member making the sale, transfer, assignment or disposal —
(a)was adjudicated a bankrupt at a time when he had attained the age of 55 years;
(b)remains an undischarged bankrupt at the time of the sale, transfer, assignment or disposal; and
(c)is required to set aside a minimum sum under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the sale, transfer, assignment or disposal; or
(ii)the aggregate of —
(A)the amount of the minimum sum or any deficiency thereof which he is required to set aside, including the whole or such part, as the Board may determine, of any interest that would have been payable thereon; and
(B)any moneys lent to him under section 14A of the Act in connection with the purchase of the property and withdrawn by him which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
(8)  Subject to paragraphs (9) and (10), where the member making the sale, transfer, assignment or disposal —
(a)was adjudicated a bankrupt at a time when he had attained the age of 55 years;
(b)remains an undischarged bankrupt at the time of the sale, transfer, assignment or disposal; and
(c)is not required to set aside a minimum sum under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the sale, transfer, assignment or disposal; or
(ii)any moneys lent to him under section 14A of the Act in connection with the purchase of the property and withdrawn by him which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
(9)  Notwithstanding paragraphs (2) to (8) but subject to paragraph (10), where the member making the sale, transfer, assignment or disposal —
(a)withdraws the sum standing to his credit in the Fund under section 15(2)(d), (e) or (f) of the Act; or
(b)withdraws the minimum sum or any part thereof from his account with an approved bank or his retirement account, or surrenders his approved annuity from an insurer, under section 15(7A)(a), (b) or (ba) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (1)(a) applies to him, all moneys withdrawn by him under these Regulations in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with any interest that would have been payable thereon if the withdrawal had not been made, or such part thereof as the Board may determine;
(ii)where paragraph (1)(b) applies to him, the relevant amount, or such part thereof as the Board may determine.
(10)  Notwithstanding paragraphs (2) to (9), where the member transfers (other than by way of sale) his estate or interest in the property to his spouse pursuant to an order of court referred to in section 27C(1)(c) or 27E (1)(c) of the Act —
(a)in the case of an order of court referred to in section 27C(1)(c) of the Act, the person referred to in section 27C(1) (i) of the Act shall pay to the member’s account in the Fund, in such manner as the Board may determine, any amount referred to in section 27C(1) (i) of the Act which the person may be required by the order of court to pay to the Board; or
(b)in the case of an order of court referred to in section 27E(1)(c) of the Act, the member or person referred to in section 27E(1) (i) of the Act shall pay to the member’s account in the Fund, in such manner as the Board may determine, such of the amounts referred to in section 27E(1) (i) (A), (B) and (C) of the Act as may be applicable to the member or person.
(11)  In this regulation —
“net proceeds”, in relation to any property which is sold, transferred, assigned or disposed of, means any positive difference between —
(a)the consideration for the sale, transfer, assignment or disposal of the property, or, if the Board so elects, the value of the property at the time of the sale, transfer, assignment or disposal as assessed by the Board; and
(b)the aggregate of the following amounts paid in the following order:
(i)any amount under a housing loan which has not been repaid; and
(ii)any amount which, under any written law, is to be paid to any other person in priority to the Fund;
“relevant amount” means —
(a)in relation to a member who is required under section 27C(1) (iii) of the Act to make a payment to the Fund upon the sale or disposal of a property, any positive difference between —
(i)the amount payment of which was secured by the charge on the property referred to in section 27C(1)(b) of the Act; and
(ii)the amount which has been paid to the Board under section 27C(1) (i) of the Act towards covering the deficiency in the minimum sum which the spouse is required to set aside; or
(b)in relation to a member who is required under section 27E(1) (ii) of the Act to make a payment to the Fund upon the sale or disposal of a property, any positive difference between —
(i)the amount which would have been payable to the account of the member’s spouse in the Fund under paragraphs (2) to (9) (excluding such interest or part thereof payable under those paragraphs as the Board may determine), if there was no order of court referred to in section 27E(1)(c) of the Act requiring the transfer (other than by way of sale) of the spouse’s interest in the house or flat to the member; and
(ii)the amount which has been paid to the Fund to the credit of the spouse under section 27E(1) (i) of the Act;
“spouse” includes a former spouse.”.
Amendment of regulation 12
5.  Regulation 12 of the principal Regulations is amended —
(a)by deleting paragraphs (1) and (2) and substituting the following paragraphs:
“(1)  Where —
(a)a member —
(i)has withdrawn any moneys under these Regulations in respect of a property; or
(ii)is required under section 27C(1) (iii) or 27E (1) (ii) of the Act to make a payment to the Fund upon the sale or disposal of a property; and
(b)the property is compulsorily acquired under —
(i)section 56 of the Housing and Development Act (Cap. 129); or
(ii)any other written law,
the member shall pay to his account in the Fund the amount specified in this regulation or such other amount as the Board may allow, taking into consideration the circumstances of each case.
(2)  Where the member whose property has been acquired is below the age of 55 years at the time of the acquisition, he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(a)the net proceeds of the acquisition; or
(b)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (1)(a)(i) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (1)(a)(ii) applies to him, the relevant amount.”;
(b)by deleting the word “repay” in paragraphs (3), (6) and (7) and substituting in each case the word “pay”;
(c)by deleting the words “any interest that would have accrued thereto” in paragraphs (3) (ii) (B), (6) (ii) (B) and (7) (ii) and substituting in each case the words “the whole or such part, as the Board may determine, of any interest that would have been payable thereon”;
(d)by deleting paragraphs (4) and (5) and substituting the following paragraphs:
“(4)  Notwithstanding paragraph (3) but subject to paragraph (8), where the member whose property has been acquired —
(a)was adjudicated a bankrupt before attaining the age of 55 years;
(b)has attained the age of 55 years and remains an undischarged bankrupt at the time of the acquisition; and
(c)is required to set aside the sums under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the acquisition; or
(ii)the higher of —
(A)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(I)where paragraph (1)(a)(i) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(II)where paragraph (1)(a)(ii) applies to him, the relevant amount; or
(B)the aggregate of —
(I)the sums, or any deficiency thereof, which he is required to set aside under section 15(6) of the Act, including the whole or such part, as the Board may determine, of any interest that would have been payable thereon; and
(II)any moneys lent to him under section 14A of the Act in connection with the purchase of the property and withdrawn by him which have not been repaid, together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made.
(5)  Subject to paragraph (8), where the member whose property has been acquired —
(a)was adjudicated a bankrupt before attaining the age of 55 years;
(b)has attained the age of 55 years and remains an undischarged bankrupt at the time of the acquisition; and
(c)is not required to set aside any sum under section 15(6) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, whichever is the lesser of the following amounts:
(i)the net proceeds of the acquisition; or
(ii)such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(A)where paragraph (1)(a)(i) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(B)where paragraph (1)(a)(ii) applies to him, the relevant amount.”;
(e)by deleting paragraph (8) and substituting the following paragraph:
“(8)  Notwithstanding paragraphs (2) to (7), where the member whose property has been acquired —
(a)withdraws the amount standing to his credit in the Fund under section 15(2)(d), (e) or (f) of the Act; or
(b)withdraws the minimum sum or any part thereof from his account with an approved bank or his retirement account, or surrenders his approved annuity from an insurer, under section 15(7A)(a), (b) or (ba) of the Act,
he shall pay to his account in the Fund, in such manner as the Board may determine, such of the following amounts as may be applicable to him or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (1)(a)(i) applies to him, all moneys withdrawn by him under these Regulations in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with any interest that would have been payable thereon if the withdrawal had not been made, or such part thereof as the Board may determine;
(ii)where paragraph (1)(a)(ii) applies to him, the relevant amount, or such part thereof as the Board may determine.”; and
(f)by deleting the definition of “time of the acquisition” in paragraph (9) and substituting the following definitions:
“ “relevant amount” means —
(a)in relation to a member who is required under section 27C(1) (iii) of the Act to make a payment to the Fund upon the sale or disposal of a property, any positive difference between —
(i)the amount payment of which was secured by the charge on the property referred to in section 27C(1)(b) of the Act; and
(ii)the amount which has been paid to the Board under section 27C(1) (i) of the Act towards covering the deficiency in the minimum sum which the spouse is required to set aside; or
(b)in relation to a member who is required under section 27E(1) (ii) of the Act to make a payment to the Fund upon the sale or disposal of a property, any positive difference between —
(i)the amount which would have been payable to the account of the member’s spouse in the Fund under paragraphs (2) to (8) (excluding such interest or part thereof payable under those paragraphs as the Board may determine), if there was no order of court referred to in section 27E(1)(c) of the Act requiring the transfer (other than by way of sale) of the spouse’s interest in the property to the member; and
(ii)the amount which has been paid to the Fund to the credit of the spouse under section 27E(1) (i) of the Act;
“spouse” includes a former spouse;
“time of the acquisition” means the date of issue of the notice of intention to acquire under —
(a)section 56(3) of the Housing and Development Act (Cap. 129); or
(b)any other written law,
as the case may be.”.
Deletion and substitution of regulation 13
6.  Regulation 13 of the principal Regulations is deleted and the following regulation substituted therefor:
“Repayment of moneys where property is vested in Housing and Development Board
13.—(1)  Subject to paragraph (2), where a member —
(a)has withdrawn any moneys under these Regulations in respect of a property; or
(b)is required under section 27C (1) (iii) or 27E(1)(ii) of the Act to make a payment to the Fund upon the sale or disposal of a property,
no moneys shall be payable by the member to the Fund where the property is vested in the Housing and Development Board under section 47 of the Housing and Development Act (Cap. 129), and the moneys paid or deposited in respect of the property are forfeited.
(2)  Where any sum of money paid or deposited in respect of the property is refunded to the member by the Housing and Development Board, upon the vesting of the property referred to in paragraph (1), the member shall pay to his account in the Fund whichever is the lesser of the following amounts:
(a)the amount so refunded to him; or
(b)such of the following amounts as may be applicable to the member or, if both amounts are applicable to him, the aggregate of both amounts:
(i)where paragraph (1)(a) applies to him, all moneys withdrawn by him in connection with the purchase of the property (including any moneys lent to him under section 14A of the Act in connection with such purchase and withdrawn by him which have not been repaid), together with the whole or such part, as the Board may determine, of any interest that would have been payable thereon if the withdrawal had not been made;
(ii)where paragraph (1)(b) applies to him, the relevant amount as defined in regulation 11(11).”.

Made this 27th day of September 2007.

LEO YIP
Permanent Secretary,
Ministry of Manpower,
Singapore.
[MMS 7/68 V51; AG/LEG/SL/36/2005/24 Vol. 1]
(To be presented to Parliament under section 78(2) of the Central Provident Fund Act).
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