Central Provident Fund (Withdrawals for the Purchase of Shares) (Amendment) Regulations 1997

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Published in Subsidiary Legislation Supplement
on 19 Dec 1997

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No. S 541

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Withdrawals
for the Purchase of Shares)
(Amendment) Regulations 1997

In exercise of the powers conferred by section 77(1)(l) of the Central Provident Fund Act, the Minister for Labour, after consultation 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 (Withdrawals for the Purchase of Shares) (Amendment) Regulations 1997 and shall be deemed to have come into operation on 10th December 1997.

Amendment of regulation 2

2. Regulation 2 of the Central Provident Fund (Withdrawals for the Purchase of Shares) Regulations (Rg 5) is amended —

(a)

by deleting the definition of “Company” and substituting the following definition:

“ “Company” means the Singapore Bus Service (1978) Limited, a company incorporated under the Companies Act (Cap. 50), before the change in name to DelGro Corporation Limited;” and

(b)

by inserting, immediately after the definitions of “ “Depository” and “Depository Register” ”, the following definition:

“ “new Company” means DelGro Corporation Limited, a company incorporated under the Companies Act;”.

Amendment of regulation 7

3. Regulation 7 of the Central Provident Fund (Withdrawals for the Purchase of Shares) Regulations is amended by inserting, immediately after paragraph (2), the following paragraph:

“(3) This regulation applies to a member who sells shares in the new Company to which the member is entitled by virtue of having purchased shares in the Company with money withdrawn from the Fund in accordance with these Regulations to the same extent as if the member were selling shares in the Company.”.

[G.N. No. S 235/94]

Made this 13th day of December 1997.

TAN CHIN NAM

Permanent Secretary,
Ministry of Labour,
Singapore.

[ML. S2.4.3/80; AG/LEG/SL/36/97/1 Vol. 1]

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