Central Provident Fund (Self-Employed Persons) (Amendment No. 3) Regulations 2007

Status:

Published in Subsidiary Legislation Supplement
on 28 Dec 2007

No. S 745

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Self-employed Persons) (Amendment No. 3) Regulations 2007

In exercise of the powers conferred by section 77 (1)(a) and (e) 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.—(1) These Regulations may be cited as the Central Provident Fund (Self-Employed Persons) (Amendment No. 3) Regulations 2007.

(2) Regulation 2 shall be deemed to have come into operation on 1st January 2007.

(3) Regulation 3 shall come into operation on 1st January 2008.

Amendment of regulation 15

2. Regulation 15(1) of the Central Provident Fund (Self-Employed Persons) Regulations (Rg 25, 2007 Ed.) is amended —

(a)	by deleting the words “any relevant year after 1996” in sub-paragraph (h) and substituting the words “the period from 1st January 1997 to 31st December 2006”;
(b)	by deleting the words “that relevant year” in sub-paragraph (h) and substituting the words “that period”; and
(c)	by deleting the words “and is not a relevant public officer for the whole or any part of that relevant year” in sub-paragraphs (o), (p) and (q).

Amendment of regulation 17

3. Regulation 17 of the Central Provident Fund (Self-Employed Persons) Regulations is amended —

(a)

by deleting the word “and” at the end of paragraph (3)(a)(i);

(b)

by inserting, immediately after sub-paragraph (ii) of paragraph (3)(a), the following sub-paragraph:

“(iii)

subject to paragraphs (4) and (4A), any amount paid in that year by the person’s spouse or sibling into the person’s special account under section 18(3)(b) of the Act; and”;

(c)

by deleting the word “and” at the end of paragraph (3)(b)(i);

(d)

by deleting the full-stop at the end of sub-paragraph (ii) of paragraph (3)(b) and substituting the word “; and”, and by inserting immediately thereafter the following sub-paragraph:

“(iii)

any amount paid in that year by the person into the special account of his spouse or sibling under section 18(3)(b) of the Act.”; and

(e)

by inserting, immediately after paragraph (3), the following paragraphs:

“(4) Where, in any year, the total of the amounts under paragraph (3)(a)(i) and (ii) to be included for the purpose of computing the maximum amount referred to in paragraph (2) exceeds that maximum amount —

(a)	the amount referred to in paragraph (3)(a)(iii) shall not be included for that purpose; and
(b)	the Board may refund the whole or any part of the amount referred to in paragraph (3)(a)(iii) to the person or persons who contributed to that amount, in the proportion in which each such person contributed to that amount.

(4A) Where, in any year, the total of the amounts under paragraph (3)(a)(i) and (ii) to be included for the purpose of computing the maximum amount referred to in paragraph (2) does not exceed that maximum amount, but the total of the amounts under paragraph (3)(a)(i), (ii) and (iii) exceeds that maximum amount —

(a)	there shall be included for that purpose only such part of the amount referred to in paragraph (3)(a)(iii) which is equal in quantum to the difference between that maximum amount and the total of the amounts referred to in paragraph (3)(a)(i) and (ii); and
(b)	the Board may refund the whole or any part of the remainder of the amount referred to in paragraph (3)(a)(iii) to the person or persons who contributed to that amount, in the proportion in which each such person contributed to that amount.”.

[G.N. Nos. S 321/2007; S 506/2007]

Made this 28th day of December 2007.

LEO YIP

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MMS 10/78-06 VOT1; AG/LEG/SL/36/2005/13 Vol. 1]

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

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