Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 1999

Status:

Published in Subsidiary Legislation Supplement
on 01 Mar 1999

No. S 85

Central Provident Fund Act

(Chapter 36)

Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 1999

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.—(1) These Regulations may be cited as the Central Provident Fund (Residential Properties Scheme) (Amendment) Regulations 1999 and shall, with the exception of regulation 2(b), come into operation on 1st March 1999.

(2) Regulation 2(b) shall be deemed to have come into operation on 1st February 1999.

New regulations 5A, 5B and 5C

2. The Central Provident Fund (Residential Properties Scheme) Regulations (Rg 6) (referred to in these Regulations as the principal Regulations) are amended —

(a)

by inserting, immediately after regulation 5, the following regulation:

“Loan by Government to member

5A.—(1) Where the Board has, on or after 1st March 1999, credited into the ordinary account of any member moneys lent by the Government to the member under any approved loan scheme under section 14A of the Act, the Board may —

(a)	on the application of the member; or
(b)	if it considers necessary,

and subject to such terms and conditions as it may impose, permit the member to withdraw such moneys —

(i)	under regulation 7 for payment of the monthly instalments of principal and interest towards a housing loan; or
(ii)	under regulation 22 for payment of the monthly instalments of principal and interest towards a loan obtained by the member for payment for his share in any common property transferred by the Housing and Development Board pursuant to an application under section 126 of the Land Titles (Strata) Act (Cap. 158).

(2) The total amount which a member may withdraw under paragraph (1) to pay such monthly instalments shall be determined by the Board.”;

(b)

by inserting, immediately after regulation 5A, the following regulation:

“Use of money in special account for payment of housing loan and share in common property transferred by Housing and Development Board

5B.—(1) Where a member, as owner of a residential property, is liable to pay, on or after 1st February 1999, the monthly instalments of principal and interest towards —

(a)	a housing loan; or
(b)	a loan obtained by him for payment of his share in any common property transferred by the Housing and Development Board pursuant to an application under section 126 of the Land Titles (Strata) Act,

the Board, with the approval of the Minister, may —

(i)	on the application of the member; or
(ii)	if it considers necessary,

and subject to such terms and conditions as it may impose, authorise the whole or part of the amount standing to the credit of the member in his special account with the Fund to be withdrawn by him under regulation 7 or 22, as the case may be, for the payment of such monthly instalments.

(2) The total amount which a member may withdraw under paragraph (1) to pay such monthly instalments shall be determined by the Board.”; and

(c)

by inserting, immediately after regulation 5B, the following regulation:

“Use of money in special account for payment of improvement contributions in respect of upgrading works

5C.—(1) Where a member, as owner of a residential property, is liable to pay, on or after 1st March 1999, the monthly improvement contributions due to the Housing and Development Board in respect of upgrading works carried out on the residential property under Part IVA of the Housing and Development Act (Cap. 129), the Board, with the approval of the Minister, may —

(a)	on the application of the member; or
(b)	if it considers necessary,

and subject to such terms and conditions as it may impose, authorise the whole or part of the amount standing to the credit of the member in his special account with the Fund to be withdrawn by him for the payment of such monthly improvement contributions.

(2) All moneys withdrawn from the Fund under paragraph (1) shall be paid by the Board to the Housing and Development Board or such other person as the Board considers fit to receive the moneys.

(3) The total amount which a member may withdraw under paragraph (1) to pay such monthly improvement contributions shall be determined by the Board.”.

Amendment of regulation 8

3. Regulation 8 of the principal Regulations is amended by deleting the words “regulations 6 and 7” in the 1st line and substituting the words “regulations 5A, 6 and 7”.

Amendment of regulation 9

4. Regulation 9 of the principal Regulations is amended —

(a)	by deleting the words “regulations 6 and 7” in the 2nd line of paragraph (1) and substituting the words “regulations 5A, 6 and 7”;
(b)	by deleting the words “regulations 6 and 7” in the 3rd line of paragraph (2) and substituting the words “regulations 5A, 6 and 7”; and
(c)	by deleting the words “regulations 6 and 7” in the regulation heading and substituting the words “regulations 5A, 6 and 7”.

Amendment of regulation 20

5. Regulation 20 of the principal Regulations is amended by deleting the words “regulation 5” in the 1st line and substituting the words “regulation 5, 5A,”.

Amendment of regulation 26

6. Regulation 26 (3) of the principal Regulations is amended by deleting the word “All” and substituting the words “Subject to section 15A of the Act, all”.

Made this 27th day of February 1999.

TAN CHIN NAM

Permanent Secretary,
Ministry of Manpower,
Singapore.

[MM C29/68 T4; AG/LEG/SL/36/97/8 Vol. 1]

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

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