Central Provident Fund (Approved Housing Schemes) (Amendment) Regulations 2017

Status:

Published in Subsidiary Legislation Supplement
on 15 Dec 2017

No. S 718

Central Provident Fund Act

(CHAPTER 36)

Central Provident Fund
(Approved Housing Schemes) (Amendment)
Regulations 2017

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, makes the following Regulations:

Citation and commencement

1. These Regulations are the Central Provident Fund (Approved Housing Schemes) (Amendment) Regulations 2017 and come into operation on 1 January 2018.

Amendment of regulation 2

2. Regulation 2 of the Central Provident Fund (Approved Housing Schemes) Regulations (Rg 12) (called in these Regulations the principal Regulations) is amended —

(a)

by inserting, immediately after the definition of “approved housing scheme” in paragraph (1), the following definitions:

“ “deferred resale levy” means any resale levy imposed by the Housing and Development Board in respect of the sale, transfer, assignment or disposition of an HDB flat or executive condominium, the payment of which is deferred by the Housing and Development Board until the person on whom the resale levy is imposed makes a subsequent purchase of an HDB flat, in a particular case or class of cases allowed by the Housing and Development Board;

“executive condominium” means any housing accommodation under the executive condominium scheme established under the Executive Condominium Housing Scheme Act (Cap. 99A);”; and

(b)

by inserting, immediately after paragraph (2), the following paragraph:

“(3) A reference in these Regulations to the purchase price of an HDB flat includes the amount of any deferred resale levy, and any interest accrued on the deferred resale levy, that the Housing and Development Board approves to be added to the purchase price of the HDB flat, in any particular case or class of cases approved by the Board.”.

Amendment of regulation 13

3. Regulation 13(12) of the principal Regulations is amended by inserting, immediately after the words “resale levy” in paragraph (b)(iii) of the definition of “net proceeds”, the words “(not being deferred resale levy)”.

Amendment of regulation 14

4. Regulation 14(10) of the principal Regulations is amended by inserting, immediately after the words “resale levy” in paragraph (b)(iii) of the definition of “net proceeds of the acquisition”, the words “(not being deferred resale levy)”.

[G.N. Nos. S 255/2007; S 507/2007; S 706/2007; S 693/2008; S 189/2009; S 447/2009; S 736/2011; S 522/2012; S 690/2012; S 386/2013; S 480/2013; S 749/2013; S 239/2015; S 654/2016]

Made on 8 December 2017.

NG HOW YUE

Permanent Secretary,
Ministry of Manpower,
Singapore.

[Plg&Pol/CPFPol/Legis/CPFSL/2017; AG/LEGIS/SL/36/2015/34 Vol. 1]

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

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