No. S 707
Central Provident Fund Act
(Chapter 36)
Central Provident Fund (Minimum Sum Scheme) (Amendment No. 2) Regulations 2007
In exercise of the powers conferred by section 77(1) 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 (Minimum Sum Scheme) (Amendment No. 2) Regulations 2007 and shall come into operation on 1st January 2008.
Amendment of regulation 7
2.  Regulation 7 of the Central Provident Fund (Minimum Sum Scheme) Regulations (Rg 16) is amended by deleting the words “the interest that would have accrued thereto” in paragraphs (2) and (2A) (ii) and substituting in each case the words “the whole or such part, as the Board may determine, of the interest that would have been payable thereon”.
Amendment of regulation 19
3.  Regulation 19 of the Central Provident Fund (Minimum Sum Scheme) Regulations is amended by deleting paragraphs (a) and (b) and substituting the following paragraphs:
“(a)require the member to refund to his retirement account any amount withdrawn by him from the minimum sum, together with the whole or such part, as the Board may determine, of the interest that would have been payable thereon if the withdrawal had not been made; or
(b)require the member to surrender the approved annuity purchased with the minimum sum and refund all the moneys representing the surrender value of the approved annuity to his retirement account, together with the whole or such part, as the Board may determine, of the interest that would have been payable on the moneys withdrawn to purchase the approved annuity if the withdrawal had not been made.”.
[G.N. No. S 503/2007]

Made this 21st day of December 2007.

LEO YIP
Permanent Secretary,
Ministry of Manpower,
Singapore.
[MMS 7/68 V52; AG/LEG/SL/36/2005/16 Vol. 1]
(To be presented to Parliament under section 78(2) of the Central Provident Fund Act).
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