Central Provident Fund (Topping-Up of Special Account) (Amendment) Regulations 2008

No. S 515

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Topping-up of Special Account) (Amendment) Regulations 2008

In exercise of the powers conferred by section 77(1) of the Central Provident Fund Act, Mr Gan Kim Yong, Senior Minister of State, charged with the responsibility of 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 (Topping-Up of Special Account) (Amendment) Regulations 2008 and shall come into operation on 1st November 2008.

Amendment of regulation 5

2. Regulation 5 of the Central Provident Fund (Topping-Up of Special Account) Regulations (Rg 37, 2008 Ed.) (referred to in these Regulations as the principal Regulations) is amended —

(a)	by deleting the words “his spouse’s or sibling’s special account” in paragraph (1) and substituting the words “the special account of a member”; and
(b)	by deleting the words “spouse’s or sibling’s” in the regulation heading.

Deletion and substitution of regulation 7

3. Regulation 7 of the principal Regulations is deleted and the following regulation substituted therefor:

“Amount of moneys by which special account can be topped-up

7. For the purposes of these Regulations, the maximum amount by which the special account of a person can be topped-up under section 18(3)(a) or (b) of the Act shall be the prevailing minimum sum less the aggregate of the following amounts on the date the application for the transfer or payment of moneys to his special account is processed:

(a)	the total amount standing to his credit in his ordinary and special accounts; and
(b)	the total amount withdrawn by him under the Central Provident Fund (Investment Schemes) Regulations (Rg 9).”.

Deletion and substitution of regulation 10

4. Regulation 10 of the principal Regulations is deleted and the following regulation substituted therefor:

“Death of member, or withdrawal by member under section 15(2)(b) or (c ) of Act

10.—(1) Subject to section 19A(3) and (4) of the Act, where any moneys have been transferred to a member’s special account under section 18(3)(a) of the Act and in accordance with these Regulations, upon the death of the member, or upon the withdrawal of any sum from the Fund by the member under section 15(2)(b) or (c) of the Act, the moneys so transferred (including all such moneys that have been transferred to the member’s retirement account in accordance with section 18(4), (5) and (6) of the Act) or the balance thereof shall be credited —

(a)	to the ordinary account from which it was transferred; or
(b)	where 2 or more persons have contributed to those moneys, to the ordinary accounts of those persons in the proportion of each such person’s contribution.

(2) Subject to section 19A(7) and (8) of the Act, where any moneys have been paid to a member’s special account before 1st November 2008 under section 18(3)(b) of the Act as in force immediately before that date and in accordance with these Regulations as in force immediately before that date, upon the death of the member, the moneys so paid (including all such moneys that have been transferred to the member’s retirement account in accordance with section 18(4), (5) and (6) of the Act) or the balance thereof shall be credited —

(a)	to the ordinary account of the person who made the payment; or
(b)	where 2 or more persons have contributed to those moneys, to the ordinary accounts of those persons in the proportion of each such person’s contribution.”.

Made this 15th day of October 2008.

LEO YIP

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 7/68 V53; AG/LEG/SL/36/2005/41 Vol. 1]

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

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