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No. S 597

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Approved Hdb-hudc Housing Scheme) (Amendment) Regulations 1998

In exercise of the powers conferred by section 77 (1) (h) of the Central Provident Fund Act, the Minister for Manpower, 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 (Approved HDB-HUDC Housing Scheme) (Amendment) Regulations 1998 and shall be deemed to have come into operation on 16th November 1998.

Amendment of regulation 4

2. Regulation 4 of the Central Provident Fund (Approved HDB-HUDC Housing Scheme) Regulations (Rg 14) (referred to in these Regulations as the principal Regulations) is amended by inserting, immediately after the word "who" in the first line, the words ", before 16th November 1998".

Amendment of regulation 5

3. Regulation 5 of the principal Regulation is amended by renumbering the regulation as paragraph (1) of that regulation, and by inserting, immediately thereafter the following paragraph:

“(2) In this regulation, "mortgage" means a mortgage created before 16th November 1998.”.

Amendment of regulation 6

4. Regulation 6 of the principal Regulations is amended —

(a)

by deleting the words "Where the member is liable as the owner of a property" in the first line of paragraph (1) and substituting the words "Where a member who has applied for the withdrawal of moneys in respect of a property under any provision of these Regulations before 16th November 1998 is liable as the owner of that property"; and

(b)

by deleting the definition of "loan" in paragraph (3) and substituting the following definition:

“ “loan” means a loan obtained by a member —

(a)	from an approved mortgagee referred to in paragraph (a) or (b) of the definition of ``approved mortgagee’’ in regulation 2 (1); or
(b)	before 16th November 1998 from an approved mortgagee referred to in paragraph (c) of that definition,

on security of the relevant property to pay in whole or in part for that member’s share in the common property;”.

Amendment of regulation 8

5. Regulation 8 of the principal Regulations is amended by deleting the words "other than an approved mortgagee" in paragraph (c).

New regulation 17

6. The principal Regulations are amended by inserting, immediately after regulation 16, the following regulation:

“Saving provision

17. Regulations 7 to 14 shall continue to apply to any withdrawal of money from the Fund authorised by the Board under these Regulations in force immediately before 16th November 1998.”.

Made this 16th day of December 1998.

TAN CHIN NAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMC 19/74 V7 ; AG/LEG/SL/36/97/8 Vol. 1]

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